Cmp: 43098.70
Support & Downside Range: 42950—42850--42700
Resistance & Upside Range: 43210-- 43420—43520 zone—43750--44000
Bank Nifty Strategy for Today
Short-Term Trend Reversal Level: -- 42850
Trading View: Intraday bias remains range bound till the bank index trading below 43210 and above 42950 and in such case options writers will try to eat as much as premium they can ahead of the weekly expiry day, 43210 bulls will come in action whereas below 42950 spot bears will come in action.
Trading View: Intraday bias remains range bound till the bank index trading below 43210 and above 42950 and in such case options writers will try to eat as much as premium they can ahead of the weekly expiry day, 43210 bulls will come in action whereas below 42950 spot bears will come in action.
Not much to write about today. Election results can have some volatility along with weekly expiry. Ideally the day wherein a trader should be careful with naked option positions but people with hedges and options strategies will do well.
Recall the morning comments of Monday, where in we clearly mentioned the markets will trade in a range for the week. Yesterday was the best day for the range to break but the policy was a disappointment.
Fresh perspective BankNifty. Support at 43850 and resistance at 43500. Long above 43250 and short below 43050 for 100 points as hero zero
Daily make use of our Bank Nifty Strategy for Today and start turning losses into profit.
| BankNifty - Current Expiry - Critical Option Analytics Data | |||||
|---|---|---|---|---|---|
| Strongest Support | Strengthening Support | PCR | MaxPain | Strengthening Resistance | Strongest Resistance |
| 43300 | 43300 | 1.28655 | 43400 | 43500 | 43500 |
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