The expiry trade was very much in line with the expectation . All Call premiums vanished up to 24700 CE much to the disbelief of the Bulls.
I have already alerted yesterday not to take the index moves lightly.
Nifty has slipped the most critical support level 10114 and bank nifty 25150. Even though all calls have lost the charm, the Puts have not come in positional buy. The situation is not conducive to buy Puts which however had moved up.
Nifty Future support 9998/9945. Resistance 10060/10094/136. Breaching 9920 will lead to serious fall.
Bank Nifty Fut Support 24694/573/457. Resistance 24960/25073/25216. Breaching 24475 will lead to serious fall.
Trade with caution!!
Tips for trade: Buy BNF24800 PE Aug 31 Expiry around 305 SL 240 TR 600.
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