Bank nifty has rebounded from a strong support level. If it break below and hold, it could lead to a significant downturn. Bank nifty at critical Juncture
BANK NIFTY ATM Straddle 38000 CMP is 1425 The long straddle is not a good idea. bcz it has to move 4% for break-even and one day to expiry As per the chart, NSE:BANKNIFTY has to close decisively above 38400 for 38800 and 39400 Levels, it has to close below 37600 for 37200 and 36600 levels.
Nifty: ATM Straddle Price is 470 Rs. We have just 2 days to expiry. Price is very high bcz of the event and Hight IV. once after the event IV will crash and those who is having a short straddle will have a break-even at 2.75% ie upside 17825 Upside and 16875 Donside. There is huge call writing in near strikes 17300, 17400, 17500 Calls and 17800. But downside...
Nifty IT at Make or Break level. If this level holds it can support Nifty as well.
FMCG index at support zone. can expect some bounce from here.
Good tread line Break Out. Perfect swing trade setup. SL 2580
Possible levels - Bank Nifty for 15th APR:- Resistance :- 32,350/ 32,700 / 32,890 / 33,280 /33594 Support:- 31890/ 31257/ 30550/ 30172/ 29800 As per Open Intrest Max Pain is at 31500
Possible levels bank nifty for 9th APR:- Clearly forming lower Highs Resistance :- 32,870 / 33,280 / 33,600 / 34000 Support:- 32,670 / 32,380/ 32150/ 31890
Nifty Analysis Possible Support or Resistance levels R: 14970/15040/15196 S: 14800/14740/14660/14480