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BANKNIFTY Update 02. 02. 2021

As spoken in yesterday's blog post, the plan was to start off with a straddle and possibly look for a bearish call spread which didn't seem to work out that well. During the day managed to change views after BANKNIFTY started to sustain 31000/30900 levels and had mentiend yesterday that "buy on dip" structure will make sense once above 14k levels on NIFTY..

Banknifty Resistance Zone - 31355.60/31592.75 Support Zone - 30619.30/30224.95 Trade: Possible range bound day near 32761/ 32105. Will continue to hold naked put shorts of 31200, 31100, 31000PE.

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