banknifty option chain OI analysis

BankNifty BN Option Chain Analysis, Strangle Straddle Returns, Expected Movement – 13th March 2019

13th March 2019 – Another rally in Bank Nifty powered by HDFC bank and heavy buying across most of the banks. CE writers had to run for their money as BN surged to all-time highs today.

Mass CE short covering across most of the ITM CEs (till 28900 CE).

Option chain – 28900, 29000 and 29100 act as the resistance on the CE side while 28000, 28400 and 28500 act as critical support. Also the key levels to watch for – 28730, 28900, 29070

Range – 28000 to 29000

Max Pain – 28700 (D-1: 28300, D-2: 27900, D-3: 27700)

PCR – 1.58

Strangle and Straddle Returns Table

BankNifty BN expected movement with 0.5 SD to 3.5 SD (Reference – Previous day’s closing price)

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