Today BankNifty succeeded in crossing 40600 resistance by gap-up opening.
In morning session 40800 short straddles are deployed in system. These short straddles breakeven range is 40500 - 41200
Previous day we seen that 40700 short straddles are deployed, but today market made an attempt to cross the 40700 short straddles upside break even point (upside 40900).
During this attempt 40700CE positions stoploss taken out and it resulted 40700CE winding up in afternoon session. But after stoploss hitting market again came down and closed below the breakeven point (40900 resistance).
In morning session 40800 short straddles are deployed in system. These short straddles breakeven range is 40500 - 41200
Previous day we seen that 40700 short straddles are deployed, but today market made an attempt to cross the 40700 short straddles upside break even point (upside 40900).
During this attempt 40700CE positions stoploss taken out and it resulted 40700CE winding up in afternoon session. But after stoploss hitting market again came down and closed below the breakeven point (40900 resistance).