BankNifty BN Option Chain Analysis, Strangle Straddle Returns, Expected Movement – 1st April 2019

1st April 2019 – BankNifty gapped up and continued to maintain levels within opening 15-min range till 2 PM. There was a short and quick rally to the second support, after which bears came into picture. Post this, BN saw a massive drop of close to 1%+ (350 points). Clear indication of heavy volatility in the days to come towards the elections. Markets are still undecisive of the levels.

Option sellers beware! Heavy volatility ahead.

Option chain – (4th April expiry) – OI got added at all levels across both PE and CE. 31500, 31000 and 30800 act as the resistance on the CE side while 30100, 30000 and 29500 act as support.

(Explanation to this table here – Also, this table is LIVE here – )

Key levels to watch for – 29929, 30102, 30276, 30450, 30625, 30800

Range – 30000 to 31000

Max Pain – 30400 (D-1: 30300, D-2: 30100, D-3: 30000, D-4: 29700, D-5: 29400)

PCR – 0.76

Strangle and Straddle Returns Table

(Explanation to this table here – ). Also this table is LIVE here – )

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

(Explanation to this table here – ). 

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