Weekly Options Strategy: Nifty Bank may consolidate going ahead; opt for Short Strangle
The futures open interest in the banking index has declined marginally last week as it moves towards physiological levels of 40000. We believe some profit booking has taken place and it may spend some time before taking out these levels. From the options front also, the Call base at ATM 39500 is almost double of any other option base suggesting limited upsides in short term.
