BANKNIFTY EXPIRY ANALYSIS
#Indicator :- #NiftyBank's #CPR levels shows that there's a Golden Pivot Zone near 54,050 range, which might act as a crucial #resistance for the day. Also the placement of CPR for upcoming day suggests that the index can open under 54,000 and continue to be bearish for the rest of the day.
#Chart Pattern :- The index is in the process of forming an "M" pattern. Which can lead the price to more downside till next support of 53,700 zones.
OI Data :- The OI data of BANKNIFTY for 25/Sept expiration shows that there's been a significant buildup of OI on the put side in comparison to call side, this signals a bullish/sideways movement. However 54,000 being a psychological level can act as a strong resistance.
#Chart Pattern :- The index is in the process of forming an "M" pattern. Which can lead the price to more downside till next support of 53,700 zones.
OI Data :- The OI data of BANKNIFTY for 25/Sept expiration shows that there's been a significant buildup of OI on the put side in comparison to call side, this signals a bullish/sideways movement. However 54,000 being a psychological level can act as a strong resistance.
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