Banknifty October 8th Expiry RangeBank Nifty is what we can say a strong instrument with much robust liquidity.
It has recently on daily timeframe made M pattern fail to regain as a strong upmoving instrument. The bias is bullish.
Three possible scenarios arises as per the behavior of the BN on open: thus three possible paths to be a possibility .
Any other movement from above these three paths means that market is either in trending mode or non tradable.
Expiryday
Does Quadruple Witching affect Bitcoin price?We have another quadruple witching date coming up next June. This is when all three classes of options expire (stock, stock index, and stock index futures options) along with single stock futures options.
I plotted all the previous QW dates with green arrows.
As time goes on, they seem to be indicative of market tops and bottoms (most notably 2015-2016).
Perhaps this is simply a function of investors and funds looking for places to drive/harvest cash around option expiry season