BANKNIFTY ANALYSIS FOR 07-01-2022

A Gapdown (due to Oversold PCR & Global Sentiment). BankNifty made a fabulous recovery today. Now Important Level 37500 (Resistance) will be further Trend Deciding. If BankNifty Open Gapup and went above 37552, then We can go for 37500 CALL on dip. If BankNifty Open Flat or Gapdown then there will be premium eating and market will go sideways. on the Downside 37000 is important support zone if Break then 37000 PE can be taken. :)

CURRENT PCR 0.84 (Due to Not Much Open Inter Data for Fresh Expiry)