Banknifty (BNF) was clearly strong today than Nifty initially. It went up and tried to break 31205 high that it made on 11th November but faced severe selling and came down. In a way, BNF was also rangebound like Nifty. It largely remained between 31100 and 30900, a range of 200 points. In option chain, total call writing near CMP is better on Call side than that on PUT side. The total OI looks evenly balanced though. There is no clear selling area so take a sell call if BNF reaches near 31200 and buy when it reached buying area as shown on chart. I am also posting video on youtube under name Market Movers India which has similar but slightly more content.
All the best. Happy trading.
All the best. Happy trading.