Bigbear2022

Bank Nifty options 7 Dec 2020

NSE:BANKNIFTY   NIFTY BANK
Weekend wrap

As discussed in queen gambit before open , Bank nifty made a morning high of 29980 against our level of 29982 and Nifty future hit a high of 13297 against our levels of 13287,traders made good money , Despite such timing and anticipation, options are unable to move much as pros and locals are heavily shorting options as new rules have forced small retail on buy side.

I got few messages that now risk is controlled and retail can't lose much , well the move has forced low cap to resort to buying only ,ready to be hammered, they have either option to buy put or call or both but without selling it's difficult to survive.

broker and pros option volumes are telling , which implies that they are acting like house and small retail as casino players , so everyone knows who's winning at the moment till algos arrive at the scene pretty soon.

Decision range

29814-29984

Support for the day

29623

Resistance for the day

30323

Expectations

Wild volatility

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