Banknifty Support and Resistance – Options Chain Live Chart
How to trade banknifty in the high volatile market? It is very difficult to answer for a small trader. Pure hedging would be the ultimate thoughts to do in this market. If you are long in Banknifty futures, buy 2 lot itm put options to minimize loss. Here in this article we will discuss the support and resistance levels of Banknifty.
3 times Banknifty have breached 32500 and pull back to 33300 which means market is in the range bound play. The major break off would bring huge sell off below 32500 which would take banknifty straight to 32000-31500 levels. As per the Banknifty live chart, it can come down till 30500 to fill gap. These are the levels for the worst scenario if it come news in the market.
Banknifty Intraday Options Chain 9th April 2021:
- At 33000ce (Call Options) OI contract stands 44121.
2. At 32500pe (Put Options) OI contract stands 37684.
Hence, we came into conclusion that banknifty intraday levels 32500 would be strong support and 33000 would be resistance. For the April series Banknifty Support would be the above levels and the resistance levels would be 35500.