NIFTY BANK NIFTY OVERVIEW FOR TOMORROW (28.02.2020)

                        NIFTY BANK NIFTY OVERVIEW FOR TOMORROW (28.02.2020)

 Nifty: Nifty and bank nifty on Thursday on occasion of monthly expiry  again made bearish candle today in row as witness some selling pressure on both index but good thing that given most recovery from lower levels ,in bank nifty hdfc bank shows some strength as recovered  from  lower levels and finally closed in positive note.Nifty opened on negative note hit intraday low 11536.70 but almost cover about 100 points from his intra low point and finally nifty closed on 11633.30 on the monthly expiry.

NIFTY 50 CHART PATTERN

NIFTY:As shown in chart nifty made bearish but Hammer type candle today,nifty still not confirmed to reverse is bear trend.Nifty made fifth bearish candle in row today.if nifty hold 11600 then chances to nifty shows some recovery in coming series.For nifty 11500 will remain important support in next session or series.

NIFTY BANK CHART PATTERN TODAY

NIFTY BANK:Nifty bank made hammer candle suggest buying occurred from lower levels, Hdfc bank recovered from low and closed in green note as Hdfc bank has heavyweight in Nifty bank ,Hdfc ban has potential to push Nifty bank ,still fo nifty bank 30000 levels are important


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Technical data for Monday on date 27 February 2020.

1.Option chain data 

i.Option chain data (Nifty 50)

1	Highest open interest call strike price	11700
2	Highest open interest put strike price	11500

In 11700 call strike price open interest stands 1,597,950 contract  and on 11800 put side open interest stands 1,209,375 contract

ii.Option chain data (Nifty Bank)

1	Highest open interest call strike price	30500
2	Highest open interest put strike price	30000

In  bank nifty 30500 strike price has 386,880 open interest and 30000 put has 305,580 open interest


 2.Support and Resistance (as per pivot)

 i.Nifty 50

PIVOT POINT		11,611.28
SUPPORT 1	11,558.72	RESISTANCE 1	11,685.87
SUPPORT 2	11,484.13	RESISTANCE 2	11,738.43
SUPPORT 3	11,431.57	RESISTANCE 3	11,813.02

 

 ii.Nifty Bank

PIVOT POINT		30,124.37
SUPPORT 1	29,976.78	RESISTANCE 1	30,334.58
SUPPORT 2	29,766.57	RESISTANCE 2	30,482.17
SUPPORT 3	29,618.98	RESISTANCE 3	30,692.38

3.Technical indicators


 i.Nifty

1	RSI	33.640	Sell
2	MACD	-100.720	Sell
3	ADX	21.282	sell
4	STOCH	82.581	Overbought

 ii.Nifty Bank

1	RSI	38.536	Sell
2	MACD	-288.66.	Sell
3	ADX	21.827	Neutral
4	STOCH	94.953	Overbought

4.Candlestick Pattern

i.Nifty:  Hammer

ii.Nifty Bank: Hammer

5.Open interest data

1.Long build up stock 

I) YES BANK=OI 16%

2.Short Buildup

  I)HINDALCO
  II)BANK OF BARODA
  III)SAIL
  IV)ITC

3.Long Unwinding

 I) UJJIVAN
II)ACC
III)AMARARAJA
IV)BOSCH

4.Short Covering 

I)MRF
II)BAJAJFINSV
III)ASIAN PAINT
IV)EQUITAS

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.