BankNifty tried to break the 40600 resistance but didn't succeeded.
As per the option chain it is observed that 40500 short straddles are deployed today. As far as BankNifty remains between 40100 - 40900, this short straddles positions are in safe zone.
If market breaks in any side, either upside 40900 or downside 40100, these short straddles sellers will run for cover.
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Note : Today after market hours "US CPI Inflation" data will be released, it will effect 14/09 price action. It would be better to think before carryforward overnight positions on tomorrow.
As per the option chain it is observed that 40500 short straddles are deployed today. As far as BankNifty remains between 40100 - 40900, this short straddles positions are in safe zone.
If market breaks in any side, either upside 40900 or downside 40100, these short straddles sellers will run for cover.
---------------
Note : Today after market hours "US CPI Inflation" data will be released, it will effect 14/09 price action. It would be better to think before carryforward overnight positions on tomorrow.