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Intraday Outlook: Buy Bank Nifty in the range of 42250-42300

Nifty F&O View:

The Nifty recovered most of its previous day loss and closed near day’s high. Except Nifty Reality all the other sectorial indices closed in green. India Vix continues to edge lower and closed at yearly low. Therefore, Nifty is likely to consolidate in the between 18200-18350 while sustains on the either side should result in trending move.

Sell Nifty 18050 Put option (December 1 expiry) in the range of Rs 43-45 Target: Rs 21 Stop loss: Rs 56 Note: Index calls may be changed, if view differs during market hours and positional recommendations given in Derivatives Strategy should not be linked to intraday index/stock calls. Bank Nifty Nifty Pivot Level 

Bank Nifty F&O View:

On Tuesday, post opening Bank Nifty traded in a narrow range and closed with a gain of 0.25%. Except Kotak Mahindra Bank and Federal Bank all the other components of Bank Nifty closed in green. According to option data, 42500 Call and Put strike holds sizeable OI. Hence, Bank Nifty is expected to trade in a narrow range with 42500 as anchor point. 

Buy Bank Nifty future in the range of 42250-42300 Target: 42500-42600 Stop loss: 42150

Date Stock Action Initiation Range Target Stoploss Time Frame
23-Nov-22 Nifty 18050 Call Buy 43.0-45.0 21.0 56.0 Intraday
23-Nov-22 Bank Nifty Buy 42250.0-42300.0 42500.0-42600.0 42150.0 Intraday