Market View | 5 June Market has reacted sharply on downside in narrower than expected majority of BJP to form government
Nifty has retested the zone 200 Day moving average and hit near 2024 lows in the breakdown
The market has turned sell on rise till it sustains below 22550
The Nifty current week ATM IV’s are 42-44, straddle 21850 at 550
Before Budget as the forming government will be alliance, market will look into the ministries allocated and work into policy consistency
The Highest call writing is at 22000 and Highest Put Writing is at 21500
### BANK NIFTY
Banknifty has reacted sharply with almost 10% cut from all time high levels
The Index remains negative till it sustains below 48500 zone
The expiry will be volatile on either side in morning first hours and closing hours
The option premiums are high for almost 1500 pt move on index
The BankNifty expiry ATM IV’s remains elevated at 52-56, straddle 47100 at 1058
https://rb.gy/y227mp
