Bank Nifty Spot View For: 23/03/2023
Cmp: 39999.05
Support & Downside Range: 39618
Resistance & Upside Range: 40090—40270—40300 zone, 40500
Check our bank nifty option tips now.
Short Term Trend Reversal Level: --
Trading View: In today's trading session key level to watch is 39618 spot levels till bank index trading above this levels bias remains buy on dips and can move upside till minimum 40090 to 40270-300 zone and max 40500 spot levels whereas if we break 39618 spot then we may get some more dip towards 39300—39000 levels.
Statement which led to Fall
Yellen told lawmakers that the government wasn’t considering “blanket” deposit insurance to stabilize the banking system while Fed chief Jerome Powell said he was prepared to keep raising rates until inflation shows signs of cooling.
One wonders that why Yellen need to make such a statement when he should have had made a statement which provides confidence to the depositors. We fail to understand that whether he wants a bank run or is acting at behest of big banks that money moves from smaller banks to big banks.
Strategy : Use Long Straddle
Long Straddle is a very popular strategy used by option buyers when the market is consolidating and they are expecting explosive move in one direction. The direction is not known at the moment so they buy an ATM call and an ATM put.
When market picks a direction with momentum and moves significantly, one of the option will have more premium than it is melt on the other.
You
should Trade Less But Trade Accurately & this is Achieved with our Tip.
