5th April 2019 – It was a range-bound and volatile day as BankNifty moved within the 1st upper and lower Fibo levels. Good day for delta-neutral option sellers. BN showed some strength in the final minutes of the week.
Option chain – (11th April expiry) – More OI added at 30500 CE and 29800 PE levels. 30500, 30700 and 31000 act as the resistance on the CE side while 29500, 29800 and 30000 act as support
Key levels to watch for – 29412, 29584, 29756, 29929, 30102, 30276
Range – 30000 to 30500
Max Pain – 30200 (D-1: 30100, D-2: 30300, D-3: 30300, D-4: 30400, D-5: 30300)
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 )
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