BANKNIFTY TECHNICAL LEVEL & DERIVATIVE STRATEGY

BANKNIFTY BULLISH BREAKOUT ZONE 56500 BANKNIFTY BEARISH BREAKOUT ZONE 56000 OPEN INTEREST UPDATES IN OPTION CHAIN : HIGHER OPEN INTEREST SEEN @ 56500 CALL AND 56000 PUT. AS PER DATA ANALYSIS MARKET LOOKS POSITIVE AND 56500 IS KEY RESISTANCE LEVEL MAXIMUM CALL WRITING SEEN @ 56500 CALL. YESTERDAY BANKNIFTY FACED 56500 RESISTANCE LEVEL AND 56000 LOOKS STRONG SUPPORT LEVEL BECAUSE MAXIMUM PUT WRITING SEEN @ 56000 LEVEL. TODAY DURING INTRADAY SHARP RECOVERY SEEN IN PRIVATE BANK SPECIALLY IN HDFC BANK. IN HDFC BANK HEAVY PUT OPTION SELLING SEEN AND AS PER DATA ANALYSIS HDFC BANK LOOKS SOLID. BANKNIFTY LOOKS POSITIVE TRADER CAN TAKE POSITION AFTER 56500 LEVEL AFTER 57000 LEVEL WILL BE NEXT RESISTANCE LEVEL.