BN (Open 30279.95, High 30515.35, Low 30131.75, Close 30306.85):- Last 3-day’ s BN is in a .
Option data Analysis:- Max Pain is 30,400, MAX OI call at 30,500 (6,72,840) and MAX OI put at 30,000 (8,61,860), max writing has happened today at 30400 strike (addition od 2,64,040) and 2,07,740 PE written off at 30,000 strike.
The estimated expiry range is 30,000-30,500, BN PCR is 0.7567, in the morning it was 0.52, PCR is more or less normalized. Everyone is expecting a short-covering and PCR is not telling the same, might be a range-bound day with full erosion of premium. It will good to play the range of BN for trading and not to wait for breakout trades.
I will be based on- 1st sign of strength will be above 30435, 2nd confirmation will be above 30630 and final validation will be above 30,758.
## Daily/Weekly/Monthly Resistance:- 31,467, 31650-31750 / 31905 (23.6% retracement of 32613 & 29612).
## Daily/Weekly/ Resistance / :- 31,113-31,183
## Tomorrow Resistance / :- 30946-31010
## Daily/Weekly/ Resistance / :- 30521-31630
## PIVOT:- 30,308-30,345
## ** Monthly 29,994-30,208
There are two types of trades:- Range Trading and Breakout Trade.
1. Range Trade:- Buy/SELL in above or below Zone & GREEN Zones, SL is zone lower point, T 100 to 300 points/ .
2. Breakout Trade:- Once a /zone is broken, keep SL as lower / upper end of the zone for next zone as the target or target 100 -300 points.