11th March 2019 – BN started with a gap up and continues to rally post the announcement of election dates. 28055 being a very strong resistance, BN seemed to hover just below the level, to settle down just below 28000 at day’s close. Heavy addition of OI across CEs (28200 to 28600) and Pes (27600 – 28000)
Option chain – 28000, 28200 and 28500 act as the resistance on the CE side while 27500, 27000 and 27700 act as critical support. Also the key levels to watch for – 27806, 27889, 27973, 28056, 28140
Range – 27500 to 28200
Max Pain – 27900 (27700 yesterday)
PCR – 1.22
Strangle and Straddle Returns Table
BankNifty BN expected movement with 0.5 SD to 3.5 SD (Reference – Previous day’s closing price)