According to Keltner channel Bank Nifty spot taking strong support at 44745
, but if it crosses down its current low which is 44662, then it may travel to
the level of 44427.
if it crosses above 44849 then it may also travel to 45195 upside.
if it spends an hour in between 44662 to 44849 then it may remain in this range
for whole day.
Banknifty standing on a strong resistance zone of 39108.
if banknifty crosses above 39108 then it may reach to the level of 39301.
between 39301 to 39483 is also an extremely strong resistance zone.
If Bank Nifty crosses over 39483 then it may also cross 39632 and may reach to the level of 39789.
if banknifty moves down from where it left off then it may...
Market is below the max pain point.
PCR is 1.52 at the time of close, which indicates more put option- over- call option in -ATM strike.
Panic option sellers closed their positions at 33500 to 34000 put option strikes, caused a sharp move on the downside
But there are put option sellers at 32900 to 33400 Put strikes not selling which are in the money now.