Banknifty weekly expiry will in between of 27500 to 27700 ?

Banknifty weekly option analysis as on 06 March 2019, 11:14 am for 7th March Expiry.

Banknifty CMP :27572
Banknifty Future :27646
Banknifty Hourly Chart

Weekly Open Interest Change

Banknifty OI Change Vs Strike Price 7th March Expiry

Maximum Call OI increase 0.5M at 27700 which is strong resistance followed by 27800 Call OI 0.4 M. So for Banknifty has difficult to cross 27700 and 27800 .

Maximum Put OI increase 0.4M at 27500 which is strong support for weekly expiry.

Historical Option chain for 7th March Expiry : 


Historical Option chain for 7th March Expiry

On Historical OI Data , Maximum Put OI 1M at 27000 which is strong support and
 Maximum Call OI 0.4M at 28000 which is strong resistance for weekly expiry.


PCR


Banknifty PCR 07 March 2019

PCR is an increase from 1.4 to 2.2 which is suggesting Banknifty has difficult to break the resistance of 27700 to 27800.

Expiry Forecast :

Banknifty has Maximum Open Interest in between  27500 to 27700. 

Expiry may come in between of 27500 to 27700.





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