Bigbear2022

Bank Nifty Options 16 Jan 2020

Short
NSE:BANKNIFTY   NIFTY BANK
As discussed Bank Nifty opened below decision range and quickly broke the support turning into a trend day. Day low was made around 31670 , extension support was around 31662.
Since many of you don't receive my updates in real time so I updated my idea at 31675 to cover shorts for the day, which I think some of you might have seen. Anyways good day for call writers.

Decision range
31823-31838
Support for the day
31666
Resistance for the day
32001

Expectation
Trend day , 31666 might be tested
My trade
I'll try to short calls at resistance

Trade active: Shorted 31900 ce @ 127. Bank Nifty equivalent 31985
Trade closed: target reached: Bank Nifty hits decision range , call @ 51 now , lets see how it goes from here

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