As you are likely aware, the geopolitical situation between India and Pakistan has deteriorated significantly over the last couple of days. In these circumstances, the markets enter a period of heightened volatility. BN saw a very weak gap up and within first 2 hours, it fell 350 points. Border tension caused heavy short covering at 27000, 26900. Still 26500 remains a strong support. Call writers at 27400 to 27800 have booked profits and moved to 27200. 27200 is the next immediate resistance, followed by 27500. Max pain remains at 27000.
Range – 26500 to 27200
Max Pain – 27000
PCR – 0.89
Expecting a very high volatility on the final day of the February 2019 series!
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