Nifty Bank IndexShort
Bank Nifty options 27 Nov 2019
As discussed yesterday 31754 was too much of a resistance for bank nifty. It corrected till pivot range and rallied back sharply from there in late afternoon.
Decision point range for 27 Nov - 31656-31699
Resistance for the day - 31890
Support for the day - 31503
Expectation - Since the pivot range is very narrow , I expect very choppy session or a session we call as premium eating day for both put and call.
My own trade - I'll try to sell calls at resistance and if markets breaks decision point range and stays below it for at least 30-40 min, i'll buy puts with a stop above 31699. Expiry jackpot trades will get activated below pivot point range.
Decision point range for 27 Nov - 31656-31699
Resistance for the day - 31890
Support for the day - 31503
Expectation - Since the pivot range is very narrow , I expect very choppy session or a session we call as premium eating day for both put and call.
My own trade - I'll try to sell calls at resistance and if markets breaks decision point range and stays below it for at least 30-40 min, i'll buy puts with a stop above 31699. Expiry jackpot trades will get activated below pivot point range.
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