Bank Nifty 1 Jan 2020

31 Ara 2019

As discussed Bank Nifty found a low near our support level and bounced up to decision range during mid day. However trading constantly below decision range for most of the day gave up some breathing space to call writers in last 30 min breaking below support level which was any how inconsequential to us as it was very late in the day to affect our positions.

Decision range for the day
32184-32226
Support for the day
32065
Resistance for the day
32304

Expectation
Initial weakness bought and resistance of 32304 might be tested , sharp upmove in last hour

My trade
I'll try to short puts near support