JAI SHREE RAM. Today was a good session with 328.85 points movement. Bank nifty took support at 36845 level and low made was 36824. while 36800 is strong Open interest in PE of 7.15 lakhs while still interesting to see that there were more positions added in the 37000 PE with addition of 5.18 lakhs OI addition and total OI is 14.95 lakhs. At the same time you will...
So today bank nifty faced resistance from 37397 the same level when it gapped down from on 26/11. Open Interest is on 37500 CE and 37000 PE. this 500 points range is going to be the play ground for this expiry.
Open interest on Strike Price above 35500 of Calls is 43 lakhs and Put below side 32 Lakks. At 35500 to be precise call OI is 13.42 lakhs Put on same stike price is 9 Lakhs
PCR of this expiry is 0.63 which shows bank nifty is shorted heavily and it will not cross 35500 but it can go to the next support level 35050. So you should buy puts of 35200 naked to make...
Bank nifty will soon cross 36700 with next 3 days as it has held today the important support level of 35243. I see that all the call writers position will unwind and short covering will be seen.
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Buy canara Bank at 162.95 SL 154 and Target 1 180 target 197.
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I am not a certified chart analyst. this are my views you consult your Financial advisor before investing