banknifty option chain OI analysis

BankNifty BN Option Chain Analysis – 5th March 2019

banknifty option chain OI analysis

5th March 2019 – After a quiet start for the index, Banknifty rallied almost 2% from the day’s open. A lot of sentiments (Oil supply increase via Libya’s largest oil field, China’s growth forecast, INR recovery, border tensions-general elections) helped move the index and end on a very high note.

Option chain – On the call side, there was heavy call writing across 27300 and 27200. 28000 is the strongest resistance followed by 27600 and 27500.  On the put side, there were heavy put writing across 27000 to 27300 levels. 27000 is the new support.

Important point to note here – Current spot is at 27554 and max pain is at 27400. It will be interesting to see if BankNifty settles down towards 27400.

Range – 27000 to 28000

Max Pain – 27400

PCR – 1.89

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