Option Chain

Option Chain for 16 March 2026

Eternal – Options Strategy (16 March Expiry)

Eternal has corrected sharply with the stock declining 28% in one month and nearly 26% in three months, pushing most technical indicators into extreme oversold territory.

Several indicators now suggest that the stock may be approaching a short-term bottom:

• RSI: 19.41 → Deep oversold zone

• Williams %R: -95 → Capitulation selling

• CCI: -122 → Extreme downside exhaustion

• Price near lower Bollinger band (206)

• ATR indicates high volatility

The stock closed at Rs. 215.68, very close to the S1–S2 support zone (212–209). Historically such setups often lead to short covering rallies.

Options data also hints at put writing around 210–215, suggesting traders expect support formation.

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Option Chain Analysis

Key signals from chain:

• 210 Put OI strong support

• 215 strike pivot battle

• 220 breakout zone

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Preferred Trade – Bottom Bounce Strategy

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Alternative Aggressive Trade

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Technical Trigger to Watch

A breakout above Rs. 221–222 will confirm:

• short covering rally

• move toward Rs. 226 – 235

Pivot levels also support this structure:

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Chanakya Technical View

The stock appears deeply oversold with panic indicators flashing exhaustion.
Options data suggests strong put support near 210, indicating downside may be limited.

If the stock sustains above Rs. 220, a sharp relief rally toward Rs. 230–235 cannot be ruled out.