Bigbear2022

Bank Nifty options 13 Feb 2020 Expiry

Short
NSE:BANKNIFTY   NIFTY BANK
As discussed Bank Nifty broke resistance for the day in first 5 min and traded above 31466 for most part of the day. It made a top around 31588 but low volumes at higher prices pushed it back near resistance for the day. I updated live on social media platforms that 31466 is a safe level for those who are long.
However, very small range occurred with call sellers doing well. Put buyers had no luck from last 2-3 days due to very high premiums in futures being managed throughout the day.

Decision Range
31490-31506
Support for the day
31397
Resistance for the day
31587

Expectation
Initial range with sharp down move after mid day
My trade
I'll try to sell calls near resistance

Note on expiry
31300 PE at 7-8 rs can be tried for 20-25 target

Whatsapp contact +46 700319761 ,telegram @bigbearhammer , public telegram link https://t.me/bigb2022

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