banknifty option chain OI analysis

BankNifty BN Option Chain Analysis – 8th March 2019

banknifty option chain OI analysis

8th March 2019 – It was a day of consolidation with negative trend. BankNifty started off a little gap down and was almost within the Fibonacci support and resistance range 1. Heavy addition of OI across CEs and PEs

Option chain – 28000, 28200 and 28300 act as the resistance on the CE side while 27500, 27000 and 27600 act as critical support. Also key levels to watch for – 27390, 27556, 27722, 27889, 28056, 28224.

Range – 27500 to 28000

Max Pain – 27700

PCR – 1.16

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