BANKNIFTY expiry special - could be a day for option sellers.??
as we discussed in yesterdays analysis we saw a unidirectional fall from the break from our given levels
now what??
though we found a unidirectional fall in first half, we did saw a strong closing in the end
and the level we found it reversing had been acted a strong support too! that makes the level important that is 34000 which is also a psychological level and will act a strong support for tomorrow too
34000-34500, this 500 point range will act as a consolidation range for tomorrow, no new position should be made between these levels as it could be highly volatile that would lead to premium decay and that would make tomorrow better for option sellers
on the other hand, if broken with proper sustainment we can see a unidrectional move again in second half
SECOND HALF of the markey could be real crucial for tomorrow
now what??
though we found a unidirectional fall in first half, we did saw a strong closing in the end
and the level we found it reversing had been acted a strong support too! that makes the level important that is 34000 which is also a psychological level and will act a strong support for tomorrow too
34000-34500, this 500 point range will act as a consolidation range for tomorrow, no new position should be made between these levels as it could be highly volatile that would lead to premium decay and that would make tomorrow better for option sellers
on the other hand, if broken with proper sustainment we can see a unidrectional move again in second half
SECOND HALF of the markey could be real crucial for tomorrow