BankNifty Trading at 26420, at 10.40 AM, Markets are trading flat with downside spike and upside spike in the first hour of the trade.
Magic Number is 26490 for the day – Above that sustains by 2-3 PM, we could see the close somewhere between 26620-26660.
Another Scenario, if it trades above 26660 by 2.40 PM, then 26770-26880, unlikely, but nothing can be predicted, anything can happen in markets.
Magic Number 26360- below that sustains by 2-3PM, we could see the close somewhere between 26250-26120.
Another Scenario, if it trades below 26250 by 2.40 PM, then 26120-26060. anything can happen in markets
If BNF trading majority of the time between the range of 26360-26490 till 2.40-3 PM.No trade zone.
Survive for the day is the rule.
Looking 26400-call options
26500 -put options
26400 call should trade above 40 by 2.55 pm or else “0” if trading ONLY above 90-120-140-180-220-260
26500 put should trade above 15 by 2.55pm or else “0” if trading ONLY above 140-250-320-380
Trade less-Trade from savings money
All the best