As discussed bank nifty found support near our levels and tried to find some strength , however breach of support during mid day opened up downtrend move which kept smashing lower level calls and no recovery was possible after breakdown expansion. We tried shorting puts at our support levels but were stopped out after some initial gains.
Decision range for the day
32048-32139
Support for the day
31867
Resistance for the day
32231
Expectation
Initial rally might get sold ,sharp upmove in last hour ,32231 might be tested tomorrow
My trade
I'll try to short calls near support levels.
Decision range for the day
32048-32139
Support for the day
31867
Resistance for the day
32231
Expectation
Initial rally might get sold ,sharp upmove in last hour ,32231 might be tested tomorrow
My trade
I'll try to short calls near support levels.