18th March 2019 – Bull run continues in the market with both the indexes not showing any sign of weakness. BankNifty gapped up (140+ points), rose to a day’s high, and wasn’t able to sustain the momentum. 29412 acted as the day’s support. CE writers had to close their shorts and roll up positions.
Option chain – There was good OI addition across both PEs and CEs at various levels. 29500, 29900 and 30000 act as the resistance on the CE side while 28500, 29000 and 29500 act as critical support. Also the key levels to watch for – 29327, 29412, 29498, 29584, 29670, 29756, 29843
Range – 29000 to 30000
Max Pain – 29500 (D-1: 29300, D-2: 28700, D-3: 28300, D-4: 27900, D-5: 27700)
PCR – 1.26
Strangle and Straddle Returns Table
BankNifty BN expected movement with 0.5 SD to 3.5 SD (Reference – Previous day’s closing price)
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