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NIFTY BANK NIFTY OVERVIEW FOR MONDAY ( 02 march 2020)


                        NIFTY BANK NIFTY OVERVIEW FOR MONDAY ( 02 march 2020)

     Nifty:First session of new march expiry  and last session of February month nifty 50 gives huge pain to investor Nifty 50 decline by 3.71 percentage (-431.55).Out of 50 stock of Nifty 50 49 stocks are closed in negative notes.Fear of corona virus in Indian market as well as global market remains yet.Nifty opened on negative note on 11382 and hit intraday low 11175 finally settled day end on 11201.75.Metals.NITY IT,and  BANK NIFTY made more pressure to the index Nifty 50.

                                         NIFTY 50 CHART/NIFTY 50 CANDLESTICK

  NIFTY 50 CHART/NIFTY 50 CANDLESTICK PATTERN

NIFTY 50 : As shown in chart Nifty 50 made strong bearish candle on day chart showing weakness in nifty 50.For Nifty 11083 is horizontal support as well as as per pivot point support in near about 11080 in next session.As we mentioned last post Nifty not confirmed trend reverse yet(NIFTY TOMORROW 28 FEBRUARY 2020).Still weakness in indian stock market.Nifty made 6 bearish candle in row.In last session only IOC stock are managed to close in green or positive note and other all 49 out of 50 nifty 50 stocks are closed in deeply red.11000 remains support for nifty 50


                   NIFTY BANK CHART /NIFTY BANK CANDLESTICK PATTERN

NIFTY BANK CHART /NIFTY BANK CANDLESTICK PATTERN

NIFTY BANK:Nifty bank bullish above 29330 and bearish below 28920 as per pivot point and horizontal support.In last session Nifty bank also made a strong bearish candle suggest more weakness in market.

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Technical data for Monday on date 2 March 2020.

1.Option chain data 


i.Option chain data (Nifty 50)



1Highest open interest call strike price11700
2Highest open interest put strike price11000

In 11500 call strike price open interest stands 1,908,975 contract  and on 11000 put side open interest stands 1,406,400 contract

ii.Option chain data (Nifty Bank)


1Highest open interest call strike price29500
2Highest open interest put strike price29000

In  bank nifty 29500 strike price has 386,880 open interest and 29000 put has 263,540 open interest


 2.Support and Resistance (as per pivot)

 i.Nifty 50

PIVOT POINT11,253.87
SUPPORT 111,122.93 RESISTANCE 111,332.68
SUPPORT 211,044.12RESISTANCE 211,463.62
SUPPORT 310,913.18 RESISTANCE 311,542.43
 

 ii.Nifty Bank

PIVOT POINT29,254.25
SUPPORT 128,944.40 RESISTANCE 129,457.00
SUPPORT 228,741.65 RESISTANCE 229,766.85
SUPPORT 328,431.80 RESISTANCE 329,969.60


3.Technical indicators


 i.Nifty

1RSI24.954Oversold
2MACD-151.510Sell
3ADX29.331sell
4STOCH76.332Buy


 ii.Nifty Bank

1RSI29.242Sell
2MACD-391.610Sell
3ADX28.849Sell
4STOCH94.109Overbought


4.Candlestick Pattern

i.Nifty:  Long Bearish

ii.Nifty Bank: Long Bearish

5.Open interest data

1.Long build up stock 

I)IDEA
II)NAUKAI

2.Short Buildup

  I)VEDANTA
  II)POWER FINANCE CORP.
  III)MAHARASHTRA GAS LIMITED
  IV)INDIGO

3.Long Unwinding

 I)SRTRANSFIN
II)MFSL
III)ASHOK LEYLAND
IV)CHOLAFIN

4.Short Covering 

NONE

For more detail about candlestick of all important stock please visit FNO CHART PATTERN today and for support and resistance of all future and option stock click to SUPPORT AND RESISTANCE.


Disclaimer: This post not suggesting any tips/recommendation for any stock/index/script
  to buy or sell just posting as per technical data as per technical indicator
 suggesting,for study purpose only.



















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