22th March 2019 – After a gup up in the first half of the session, Bank nifty index cracked down 400 points. Finally, CE writers would have been delighted. The index has shown weakness in the last 30 minutes during the day.
29950 (FIBO 2) was a strong resistance for BN on the expiry date.
Option chain – (28th March expiry). Since it is the beginning of the expiry, writers wrote at almost all the strikes, majorly multiples of 500. 30000, 30200 and 30500 act as the resistance on the CE side while 29500, 29000 and 28500 act as support. Also the key levels to watch for – 29584, 29670, 29756, 29843, 29929, 30016, 30102
Range – 29500 to 30000
Max Pain – 29700 (D-1: 29500, D-2: 29700, D-3: 29400, D-4: 29300, D-5: layout, 300)
PCR – 0.68