17aug2023:EXPIRY DAY ANALYSIS

Hello everyone ,

Welcome to the exciting world of share market, in this post we will discuss about some important datapoints for today expiry .

NIFTY50 TECHNICAL ANALYSIS :

* Nifty yesterday move was same as my post , take support from support zone and rejected on resistance zone ,and ,Today is weekly expiry day , so (OI) data is very important .

1) Nifty 1hr time frame analysis

NIFTY SPOT : 19465

no change in Support and Resistance zone

Support zone [ based on support & resistance ] : 19260 to 19320

Resistance zone [ based on support & resistance ] : 19420 to 19460

2)Area of confluence is formed in the resistance line of 19462 and 200 ema also rejected .

this data shows the nifty is under control by bears .

3) Still nifty spot is trading below the 200day EMA , shows negative view .

4 ) Weekly Open Interest data for Nifty50[Aug 17th Expiry ]

MAX CALL OI : 19600 STRIKE ,FOLLOWED BY 19500 STRIKE

MAX PUT OI : 19300 STRIKE , FOLLOWED BY 19400 STRIKE

Based on OI Nifty range for this expiry is between 19400 to 19600 range .as per today OI data support is very strong .

BANKNIFTY TECHNICAL ANALYSIS :

1) Bank Nifty 1hr timeframe analysis

BANKNIFTY SPOT : 43946.40

Bank Nifty forms a slanting HNS pattern , and also seen death crossover on 45060 , these is

bearish pattern , and also slanting HNS neckline also broken ,continuously forming lower low and lower high .so , with all the technical data shows Bank Nifty is controlled by bears.

2)Downtrend channel pattern is also respected everyday .

3) Bulls have hope above 45100 region , once Bank Nifty brokendown the 43360 ,then we expect the 42500 , 42000 .

4 ) Weekly Open Interest data for Bank Nifty[Aug 17th Expiry ]

MAX CALL OI : 44500 STRIKE ,FOLLOWED BY 44000 STRIKE

MAX PUT OI : 43800 STRIKE , FOLLOWED BY 43500 STRIKE

Based on OI Bank nifty range for this expiry is between 43800 to 44000 range . inside this 200 points range Bank nifty in sideways .if broken either side the we expect good move on broken side .

GLOBAL MARKET UPDATE : ( noted time : 01:10 am )

Dow Jones - 34959.24 ( down by -142.16 ) -0.40%

Nasdaq - 13619.82 (down by -133.37) -0.98%

Gift Nifty - 19,422.50 (-49.00) -0.25%

India VIX - 12.13

CONCLUSION :

Based on chart patterns , S&R , EMA and global market shows negative bias ..

OI data shows support is strong , so , compare both of these data shows very volatile expiry . and maximum market moved on sideways direction .( my personal opinion )

This are the today important data points for know before trading , and all the information is

given by my own analysis .this post is only for educational purpose , and do not take trade blindly based on my view , do your own analysis before take trade . share market investment and trading is subjected to market risk , read all the related documents carefully before trade