banknifty option chain OI analysis

BankNifty BN Option Chain Analysis – 6th March 2019

6th March 2019 – BankNifty started off with a gap up, and was unable to breach the Fibonacci level 1 at 27,740. There was a bit of consolidation in both the indexes until 1:30 PM, and a slight recovery towards the end. 27,750 was the recent high and it will be interesting to see if BN breaches this resistance.

Option chain – On the call side, there was very high addition at 27800 CE and across 27700, 27900  CEs. 28000 continues to be the resistance followed by 27800 and 27700.  On the put side, there option writers have booked profits and moved to the higher levels 27300 to 27500 PEs. 27000 continues to be the support.

Range – 27000 to 28000

Max Pain – 27500 (yesterday it was at 27400)

PCR – 1.60

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