BANKNIFTY
on a weekly timeframe is trading in the channel, unless we get a breakout or breakdown of the channel it won't be easy to find a good trend on either side. With geopolitical tensions rising and looking at the charts and the fall in
BANKNIFTY
last week there will be selling on every rise. The preferred way to trade this will be selling 48500 and above calls and if
BANKNIFTY
sustains above 48000 levels then we can sell puts from below 47000 and create a strangle for the monthly expiry.
Comment:
BANKNIFTY CLOSED BELOW 48500 and gave additional profit by selling otm puts (47000-47500 pe)