Bank nifty on monday has day high of 31697.55 and
moves as a range bound market for consolidation
The index has touched day low of 31013.65 and closes
at 31198.40
The Index has extended the virgin cpr of 22/01/2021 for
27/01/2021 also as the 25/01/2021 was not touched the same.
What will be expectation:
Expected CPR: 31303.20 , 31355.60 & 31250.80
Case 1:
Go for Short if the index break 25/01/2021
low in 5 mins time frame.
Target - 30800 & 30500
Option Strategy:
Sell: 31500 & 31600 Call option - Hedging - 31800 CE
and Buy 31000 PE
Case 2:
If the index breaks the CPR and closes in 5min time frame:
go for Long.
Target - 31700 & if the index breaks 1hr time resistance go
for Long: Target 32200 - 32400
Option Strategy:
Sell - 30900 & 30800 PE - Hedging - 30600 PE
Buy - 31400 CE
Disclaimer: Kindly do your own analysis before executing the trade