BankNifty back to pavilion -Investors are sad, Traders are happy

Bank Nifty looks very weak. 21 red candles, only 9 green candles on 4hr charts since 31st August. Big guys know early than the retail investors. FIIs short on Futures, bought options (most likely the PUT) during the current week ended. Think it may reach 21500-21600 levels during moratorium hearing. As per my observation, BankNifty, where ever it went came back to those levels during the earlier hearings. So IMHO, BankNifty may go back to those levels soon before the hearing. From there the Index would again taken forward or backward basis court verdict. Suppose if verdict not in favour of banks, then BN may go back to 20k levels. So, investors may plan in such a way that they always have spare money to buy/enter at those levels.

It would be better to write the calls or buy the puts for coming two weeks.

Disclaimer - the idea is just for study purpose. Please do study on your own and take your own decision before investing.