BankNifty - Insane rally!

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BankNifty made a humoungous move on the expiry day. Caught everyone by surprise by moving above 19275 especially call writers who sold calls with strike 19300. Once BankNifty crossed 19300, there was panic among these people and must have bought futures in Hara kiri and propelled the insane move on the upside to 19518.

This is what FII's & other large players do. Their buying and selling impact prices immensely. They buy options on expiry day and then buy or sell to minimize the impact cost.

We were out after booking profits in the range of 19150-275 and were waiting on the sidelines once it crossed 19300 with force, jumped in again and captured the next 200 points in last one hour. All profits booked.

Now, will wait for BankNifty to touch 19200-300 and will buy again.

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