28th March 2019 – Good expiry for option buyers. Banknifty reached all-time highs crossing all pivot levels and fibo levels (1,2,3). Really tough times for CEC option writers with strict Stop loss. As said earlier, this volatility is expected to increase further as we go closer to the elections. Trade with caution.
Option chain – (4th April expiry) – Since it is the beginning of the expiry, writers wrote at almost all the strikes, majorly multiples of 500. 30500 and 31000 act as the resistance on the CE side while 30000, 29800 and 29500 act as support.
Key levels to watch for – 29929, 30102, 30276, 30450, 30625, 30800
Range – 29500 to 31000
Max Pain – 30100 (D-1: 30000, D-2: 29700, D-3: 29400, D-4: 29700, D-5: 29500)
PCR – 1.13
Strangle and Straddle Returns Table
BankNifty BN expected movement with 0.5 SD to 3.5 SD (Reference – Previous day’s closing price)
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