State Bank of India Option Chain Strategy Today (28 April Expiry)
Today’s Options Trade Setup
| Instrument |
Trade |
Buy Zone |
Target |
Stop Loss |
| State Bank of India |
1100 CE Buy |
Rs. 9.00 – 11.50 |
Rs. 17.00 / 24.00 |
Rs. 6.20 |
| State Bank of India |
1090 PE Buy |
Rs. 10.00 – 12.50 |
Rs. 18.00 / 26.00 |
Rs. 7.00 |
Execution Plan
| Condition |
Action |
| Below 1090 |
Buy 1090 PE |
| Above 1100 |
Buy 1100 CE |
| 1090 – 1100 |
No Trade Zone |
Why This Strategy?
| Factor |
Observation |
| Closing Price |
Rs. 1094.25 (near pivot strike zone) |
| Trend |
Short-term bullish, medium-term bullish, long-term bullish |
| Resistance Zone |
1100 – 1110 (heavy call writing visible) |
| RSI |
54.49 (neutral bullish, room for move) |
| Option Data |
Put support near 1090–1085, call resistance at 1100–1110 |
Support and Resistance (Option Chain Based)
| Type |
Levels |
| Immediate Support |
1090 – 1085 |
| Strong Support |
1080 – 1075 |
| Immediate Resistance |
1100 – 1105 |
| Strong Resistance |
1110 – 1120 |
Key Levels
| Level Type |
Price |
| Pivot Strike |
1095 |
| Downside Trigger |
1090 |
| Upside Trigger |
1100 |
PCR Analysis Today
| Strike |
PCR |
Interpretation |
| 1080 |
0.73 |
Mild support |
| 1085 |
1.00 |
Balanced support |
| 1090 |
0.83 |
Neutral |
| 1095 |
0.95 |
Base forming |
| 1100 |
0.59 |
Resistance zone |
| 1110 |
0.43 |
Heavy resistance |
👉 Bias: Bullish above 1100, weak below 1090
Max Pain Today
| Metric |
Level |
| Max Pain Zone |
1095 – 1100 |
Intraday Strategy (Option Chain Based)
| Scenario |
Expectation |
Trade Strategy |
| Above 1100 |
Upside toward 1105 / 1110 |
CE Buy |
| Below 1090 |
Downside toward 1085 / 1080 |
PE Buy |
| 1090 – 1100 |
Sideways / Premium decay |
Avoid Trade |
Technical View Today
| Indicator |
Signal |
| Momentum |
Positive with steady strength |
| Bollinger Band |
Price near upper band Rs. 1122.86 – breakout zone nearby |
| ADX |
24.27 – trend active |
| MACD |
Positive crossover intact |
| SAR |
Rs. 1033.97 – trend support positive |
👉 Trading Meaning: State Bank of India remains in bullish structure, but immediate hurdle lies at 1100–1110 where call writers are active. Best trade is breakout above 1100 or breakdown below 1090. Inside range, premium decay likely dominates.
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