Important References from Marketprofile
36230F – Vwap of trend day up on 30/8 – Pivot.
35940F – Single print buying area.
37044F – Pullback High from 1/9.
Important References from Open interest data
36608F – Previous Resistance from call writers from 31/8 and support from PE writers on 1/9.
Calls vs Puts Activity from 1st September 2021
Open of today was above 36590F which had got momentum for bulls as mentioned in yesterday’s report and all the CE writers were taken for a ride and heavy PE writing has come in which indicates a limited downside for BNF tomorrow.
A drive down below 36608F is not a good sign for bulls in BNF and BNF can go to test 36216F.