36650-36710F can be the magnet for this week considering too much option writing happened at these levels any move away might retrace back here. – This is second consecutive week of option writers taking control on thursday itself.
BNF has openend within the previous day’s range and made a test above high of 8/9 and met with selling from previous single prints indicating presence of supply and has done timepass within a very narrow range for the rest of the day.
Heavy call and put oi addition happened towards the closing indicating the repeat of option writer’s intentions for yet another balanced week.
Range for the week can be set as 37248-35940F based on current structure and data setup.
Flat open is the expectation and a controlled range bound move can be the order of the day on monday.