BankNifty Range 36000 - 37600 for 6th Jan Expiry
Updated
BankNifty has traded well bullish for the last 2 sessions, the upmove was led by private banks which are Advancing & trading above previous day highs. After such a sharp upmove, expecting some cool off now. However, 37000 Call have highest (22 Lakh) Open Interest, which if broken with a gap up can lead to further rally upto 37600.
Downside highest open interest is at 35000 PE and 2nd highest at 36000 PE with 21.8 contracts Open Interest which should act as a good support.
With 2 days remaining to expiry it would be relatively safe to play in a 1600 points range of a Strangle and slowly narrow down as the expiry nears
Downside highest open interest is at 35000 PE and 2nd highest at 36000 PE with 21.8 contracts Open Interest which should act as a good support.
With 2 days remaining to expiry it would be relatively safe to play in a 1600 points range of a Strangle and slowly narrow down as the expiry nears
Note
37500 Expiry Done!!
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