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BANKNIFTY : 36368

Bank Nifty opened gap up and escalated throughout the day. Banking stocks surged and pulled the index above 36450 levels and it settled the day with gains of around 950 points. It formed a Bullish candle on daily scale and continues its formation of higher lows of the last three sessions. Now it has to continue to hold above 36000 zones to witness a bounce towards 37000 and 37250 zones while on the downside support exists at 36000 then 35500 levels

Expiry day point of view: Overall trend is buy on decline on a hold near to 36000 zones Bank Nifty till it holds above 36000 zones it could see an up move towards 36750 then 37000 zones. Option traders are suggested to trade with nearby Call like 36300, 36400 strikes or Bull Call Ladder spread

Trading Range: Expected immediate trading range : 35500 to 37000 zones

Option Writing : Option writers are suggested to write OTM 37200/37300 Call and 35300/ 35200 Put with strict stop loss

Weekly Change : Bank Nifty is up by 4.50% at 36368 on a weekly basis. Bank Nifty VWAP of the week is near to 35750 levels and it is trading 650 points higher to the same indicates bullish bias.

Key Data

Option Weekly Activity

NIFTY : 15245

Nifty index opened gap up above 15000 and witnessed sustained buying interest throughout the day to mount towards 15273 marks. We witnessed positive momentum in the entire market with bulls having complete dominance and the session concluded with decent gains of around 320 points. It continues forming higher lows from the last three trading sessions and supports are gradually shifting higher. Now, it has to continue to hold above 15150 zones to extend its move towards 15400 and 15500 zones while on the downside immediate support exists at 15000 then 14900 levels

Expiry day point of view: Overall trend is bullish with buy on declines strategy but upside is also limited. Option traders are suggested to be with positive to range bound bias for an up move towards 15400 zones. Buy nearby 15200 and 15250 Call or Bull Call Ladder Spread.

Trading Range : Expected wider trading range : 15000 to 15350 zones

Option Writing : Aggressive Option writers can sell 15350 Call and 14900 Put with strict double stop loss

Weekly Change : Nifty index is up by 4.93% at 15245 on a weekly basis. Nifty VWAP of the week is near to 14975 levels and it is trading 275 points higher to the same indicates overall range bound bias with buying on decline.

Key Data

Option Weekly Activity

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