Yesterday BNF was sideways. Today also it can remain sideways. 35000 is a strong resistance. If trade above 35100 for 15 minutes, 35350 is the target on upside.
Similarly, 34850 is a strong support. If broken, 34600 can be a quick target followed by a recovery towards 34800.
If we look at OI data. 35000 is having a lot of calls written. If BNF manages to trade above 35000, short covering can propell BNF to 35300 very quickly.
Trading range for July expiry seems to be 345000-35500. One can sell OTM options outside this range for Zero.
Similarly, 34850 is a strong support. If broken, 34600 can be a quick target followed by a recovery towards 34800.
If we look at OI data. 35000 is having a lot of calls written. If BNF manages to trade above 35000, short covering can propell BNF to 35300 very quickly.
Trading range for July expiry seems to be 345000-35500. One can sell OTM options outside this range for Zero.