#BANKNIFTY Priceaction & Retracement analysis

Last week we discussed that banknifty is likely to consolidate in a range and advised to trade the range mostly by selling options. This has played out pretty well.
Looks like 25500 is a good base , both from price action and option OI. Based on that can take long positions with 25450 as stops as mentioned last time. Or keep hedged options long. one strategy could be to take butterfly long positions based on this view
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