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BANKNIFTY : 35668

Bank Nifty opened negative and moved in a range for most part of the session. It surpassed its previous day's high but failed to hold above multiple hurdle of 35800 zones and closed the day on flattish note. It formed a Bullish candle on daily scale and is forming higher highs - higher lows from the last three sessions. Now it has to hold above 35500 zones to move up towards 36000 and 36250 zones while on the downside support exists at 35350 and 35000 levels.

Expiry day point of view:

Overall trend is likely to remain positive to range bound and need to holds above 35500 zones for an up move towards 36000 then 36250 zones while on the downside support exists at 35350 then 35000 levels. Option traders are suggested to trade with nearby Call like 35600, 35700 strikes or Bull Call Ladder spread

Key Data

Trading Range: Expected immediate trading range : 35350 to 36000 zones

Option Writing : Option writers are suggested to write OTM 36100/36200 Call and 35100/ 35200 Put with strict stop loss

Weekly Change : Bank Nifty is up by 1.70% at 35668 on weekly basis. Bank Nifty VWAP of the week is near to 35500 levels and it is trading 150 points above to the same indicates positive to range bond bias.

Option Weekly Activity

NIFTY : 15854​​​​​​​

Nifty index opened flattish and after a slight dip in the initial hour, it moved higher to 15877 levels during the day. Index is sustaining at higher zones and bulls cheered it just 38 points away from its life time high levels. It formed a Bullish candle on daily scale with long lower shadow and continues higher highs - higher lows from the last three sessions. Index has been moving in between 15632 to 15915 levels from last sixteen trading sessions and requires a decisive range breakout to commence the next leg of rally. Now, it has to hold above 15800 zones to witness an up move towards 15915 and 16000 levels while on the downside support exists at 15750 and 15600 levels.

Expiry day point of view:

Overall trend is consolidative and need to holds above 15800 zones to witness an up move towards 16000 zones while on the downside support is seen at 15750 then 15600 zones. Buy nearby 15800, 15850 Call or Bull Call Ladder Spread.

Key Data

Trading Range : Expected wider trading range : 15750 to 15950/16000 zones

Option Writing : Aggressive Option writers can sell 15950 Call and 15700 Put with strict double stop loss

Weekly Change : Nifty index is up by 1.05% at 15853 on a weekly basis. Nifty VWAP of the week is near to 15800 levels and it is trading 50 points above to the same indicates overall bullish bias with buying on declines.

Option Weekly Activity

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