Intraday study for Indian indices for 20 October 2022

 Hi good morning

As we see yesterday that the market holds the level of 17500 and give a close above that level even after the dip as the data is strong as i highlighted you at about 12:30 and in bank nifty we also successfully holds the level of 40300 which is the 2nd resistance of our and we have see in US market the Dow's corrected about 100 points and still trading in a loss of some points and the Nasdaq also doing the same but the weakness is more
So by taking cues from the SGXNIFTY it suggest that we are going to op open on a negative side but i don't think we are open in too deep cuts as our supports are at good levels and we have a weekly expire also


So now we talk about the levels in the nifty -- the nifty holds the level of 17500 because it has the maximum PU writing and the call of that strike is going to cover so the range is at 17400-17500 is the major support level of the current data if i wrote the data then about the 2.5cr puts are holding till 17500 and the 1.2cr CE are holding till 17500 So it defines our range that the 17600 is CE of 90L so it may act as resistance

Now banknifty --- the banknifty holds the level of 40000 which is the major support of it with resistance of around 40500-40800 so book profit in this range
Noe we talk about the Stock / Sector view that the Bank looks good along with PSU bank the realty media

Now i have 1 idea as well that 1 should go with the bank bees of PSU and PVT and Nifty50 ETF so it will be easy for some days to make good return

Keep follow like and share I will update i will found any good trade in the day time


Disclaimer -- I may have some positions in some of highlighted stocks and this is only study for understanding purposed of the data and the patterns I am not saying anyone to buy any of these picks discussed here i am not SEBI Registered

Oct 20

Comment: Refer previous day idea the INFY trade we will have our breakeven at 1511 and then the level of 32 & 42

Oct 20

Comment: we are above 1490 just wait to sustain by the closure of the candle above this level

Oct 20

Comment: just wait for the close my system is not working properly need to restart it but you guys keep you eyes open and watch the level and comment if comes

Oct 20

Comment: bank nifty has very huge negative data but the data of nifty is slightly negative

Oct 20

Comment: keep an eye on 17500 & 17550 CE @ 10 & 30

Oct 20

Comment: see the up move we are again correct

Oct 20

Comment: see 10 wala 20 Ur 30 wala 70..... enjoy

Oct 20

Comment: see markets as per data highlighted Nifty Positive and bank nifty Negative