Bank Nifty | Bank Nifty trades choppy ahead of weekly expiry

Bank Nifty index has been trading choppy in the early trade on Wednesday. The index is trading at 24,865 level, up by 80 points or 0.33% as of 1021 hours.


PSU banks like Bank of Baroda, PNB and SBI are leading the index while private bank stocks are trading marginally higher in the morning trade. Barring HDFC Bank, all the constituents of Bank Nifty have been trading in positive terrain.


Bank Nifty September future is trading at a premium of 6 points as compared to a discount of 2 points in previous trading session. On the options front, Bank Nifty 14SEP 24,700 PE has seen addition of 2.94 lakh shares in its open interest while Bank Nifty 14SEP 24,900 CE has seen addition of 2.17 lakh shares in open interest.


However, the maximum open interest is seen in Bank Nifty 14SEP strike 25,000 PE of 12.42 lakh shares and 24,500 CE of 8.98 lakh shares. There is buying activity seen at the call strikes whereas selling activity is seen at the put strikes near the spot level signalling positive undertone in the market.

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