- All Indices closed positively except IT.
- FIIs were net seller (sold approx 680 Crs)
- As per market participation data, FII bought index futures and unwound 3100 contracts
- Long put and Short call unwinding seen by FII which is good sign for bulls.
- net Long to Short percentage is 45% vs 55% , yesterday it was 43 vs 57 , bullish view
- Today's Bank Nifty closing price, above tomorrow / weekly CPR indicates bullish view.
- but weekly and daily CPR width widened compare to previous week / day.
- 31500 should act as strong support because of weekly and daily CPR confluence, followed by 31480 and then 31330 levels.
- 31770 and 31830 levels should be resistance if this breaks out then it might go until recent highs 32150 level.
- Max pain increased by 100 points 31500 level
- PCR increased significantly which is good sign for bulls.
- Planning to do short straddle 31200, 31400, 31500, 31600, 31800, 32000 and 32200 on weekly basis.
- Monthly 31000, 31500, 32000 and 32500 short straddle.
- Short strangles weekly 32000 above calls (32200, 32400 and 32500) and 31200 below puts (31000, 30800, 30600)
- expecting that bank nifty likely to trade this week between 32200 - 31200 levels.
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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