rahulmohile85

Levels for Bank Nifty

NSE:BANKNIFTY   Nifty Bank Index
Bank Nifty clearly forms a Bearish Engulfing pattern and given closing nearly at the Fibonacci retracement level. Call writers are more aggressive and 44000 Strike has 25 Lakh OI. Put writers have moved one step backward which clearly indicates a bearish view for the upcoming week we need to find an opportunity to Sell bank Nifty ( SELL on rise STRATEGY) will be used for the upcoming week. For Every Bounce we can either sell call option or we can BUY PUT option.

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