11th April 2019 – Another range bound day for BankNifty, the index moved within a range of 200 points. Clear indication that the participants are indecisive of the outcome of the elections. VIX hit 21 and is expected to go up further.
Option chain – (18th April expiry) – Since it is the beginning of the expiry, writers wrote at almost all the strikes, majorly multiples of 500. 30000, 30500 and 30200 act as the resistance on the CE side while 30000, 29500 and 29000 act as support
Key levels to watch for – 29412, 29584, 29756, 29929, 30102, 30276
Range – 29000 to 30000
Max Pain – 29900 (D-1: 30000, D-2: 30000, D-3: 30000, D-4: 30200, D-5: 30100)
PCR – 0.64
Strangle and Straddle Returns Table
BankNifty BN expected movement with 0.5 SD to 3.5 SD (Reference – Previous day’s closing price)
(Explanation to this table here – http://bit.ly/nbn_bnstandarddeviation ).
For any queries, do post your questions here in our QnA forum here – http://bit.ly/nbn_tradingqna )
Join our WhatsApp group now to get live updates about BankNifty BN Option Chain Analysis and more! Learn option trading and start earning a passive income.