Bank Nifty 28 July 56400 Put Option May Go to ₹400 If It Stays Above ₹60: A Trader's Personal Market View (Part 3)Support and Resistance AnalysisSupport and resistance are among the most important concepts in technical analysis. A support level is an area where buying interest may emerge, while resistance is an area where selling pressure may increase.In this trading idea, the ₹60 premium level is viewed as an important reference point. If the option continues to trade above this level with healthy market participation, it may suggest that buyers are still active.
Bank Nifty 28 July 56400 Put Option May Go to ₹400 If It Stays Above ₹60: A Trader's Personal Market View (Part 3) Support and Resistance Analysis Support and resistance are among the most important concepts in technical analysis. A support level is an area where buying interest may emerge, while resistance is an area where selling pressure may increase. In this trading idea, the ₹60 premium level is viewed as an important reference point. If the option continues to trade above this level with healthy market participation, it may suggest that buyers are still active. However, this alone does not guarantee that the premium will reach ₹400. Confirmation from overall market conditions and Bank Nifty's price movement remains essential. Understanding Option Chain Data Many experienced traders use the option chain to better understand market positioning. An option chain may provide information about: Open Interest (OI) Change in Open Interest Trading Volume Bid and Ask Pr...