likely to have gap down opening. As per OI data, max put OI is at 40500. if markets falls below 40500 levels, then it will be a sideways market with expiry to 40500 levels. however if markets manage to remain to be above 40500 at least for 1 hr we will see puts unwinding and this should help markets move up, the target could be 41000.
BANKNIFTYBeyond Technical AnalysisTrend Analysis

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