- Last hour recovery helped indices to close positively from days low.
- FIIs and DIIs are net buyers today.
- As per market participation data FIIs on index future did not do much but in index options they bought more calls than put and wrote more calls than put. this is giving mixed signals.
- The last hour recovery might be a trap for Bulls.
- Net long to short on index by FIIs 43 % vs 57 % which means still there is a bearish sentiment.
- Bank Nifty closing price is above CPR, and Daily CPR narrowed a bit, and making lower low pattern, indicates the bearish sentiment.
- Predicting that because of the agitation caused by citizenship amendment bill our indices could come under pressure.
- today Fed will announce about the interest rates, tomorrow ECB Interest rate decision, all these contribute to another volatility session tomorrow.
- no change in Max pain, PCR increased a bit, all these are giving mixed signals.
- if open price tomorrow is above CPR, there is likely to be magnet trade to the level central pivot.
- 31000 should act as support and 31500 should act as resistance.
- Planning to do short strangles 30600, 30800, 31000, 31200, 31400, 31500, 31600 and 31800 on weekly basis.
- monthly 30500, 31000, 31500 and 32000 short strangles.
Disclaimer: I am not a SEBI register advisior, The above trade setup is purely based on my own study and analysis. i am not giving suggestions to buy / sell specific options. please consult your financial advisors / do the due diligence before taking any trade.
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