Banknifty 15200 put options analysis

banknifty 15200 put option today closed at 260 rupee
with gains of 62 rupee premium in intraday
today bank nifty 15200PE hit low around 135
while high was near 270 so almost 100% gains
seen from days low as index slips to fresh low
17% cut in open interest suggest writers are
covering shorts in this option
on daily chart 15200 is s2 levels of banknifty for sep 2015
and now next support zone level
towards which banknifty is heading
on upside 16200 will remain as strong closing
basis resistance for banknifty index
for traders 135 levels in stop loss and on upside
expect targets of 550 to 650 if banknifty reach 15200 levels

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Pramod Baviskar

Professional Market Trader And Owner Of Dalal Street Winners Advisory And Coaching Services. Working Since 2007 And Online Presence Since 2010. We Provide Highly Accurate And Professional 1 Entry And 1 Exit Future, Option, Commodity, Currency And Intraday Stock Tips On Whatsapp With Live Support And Follow Up.
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