28th February 2019 – It was a very quiet expiry for BankNifty as the Range (high-low) was around 160 points which is just 0.6%. More Put writers suffered as the Max Pain was 27000 at the previous close.
Option chain – The resistances are at a very narrow range on the CE side – 27000 (1st), 27200 (2nd) and 27500 (3rd). On the put side, the supports are at 26500, 26000 and surprisingly 25500. Max pain is at 26900. It will be interesting to see as the Max Pain is 100 points above the previous closing price.
Range – 26500 to 27000
Max Pain – 26900
PCR – 0.98
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