BANKNIFTY TECHNICAL LEVEL AND DERIVATIVE DATA UPDATES

BANKNIFTY BULLISH BREAKOUT ZONE 57800 BANKNIFTY BEARISH BREAKOUT ZONE 57300 OI UPDATES IN OPTION MARKET IN INTRADAY HIGHER OI SEEN @ 57700 CALL & PUT LEVEL. AS PER OPTION DATA MARKET LOOKS RANGE BOUND. IN INTRADAY OPTION SELLERS ACTIVE IN 57700 CALL & PUT. SO AVOID OPTION BUYING RIGHT NOW. AND AS PER TECHNICAL AND FUNDAMENTAL ANALYSIS PRIVATE BANKS LOOKS MORE ATTRACTIVE THAN PSU BANKS. HDFC BANK AND ICICI BANK HAS POSITIVE NEWS AND AND LOWER PCR ALSO INDICATES STOCK MAY SEE UPWARD JOURNEY IN NEXT WEEK. AVOID PSU BANKS FOR ONE WEEK. MOST OF THE PSU BANK ALREADY GIVEN GOOD RUN UP SO PSU BANKS MAY TRADE IN CONSOLIDATE ZONE. FOR POSITIONAL INVESTOR RESISTANCE LEVEL IS 58000, 58400 AND SUPPORT LEVEL IS 57100