State Bank of India Option Chain Strategy Today (28 April Expiry)
Today’s Options Trade Setup
| Instrument |
Trade |
Buy Zone |
Target |
Stop Loss |
| SBIN |
1120 CE Buy |
Rs. 10 – 14 |
Rs. 20 / 30 |
Rs. 6 |
| SBIN |
1100 PE Buy |
Rs. 18 – 24 |
Rs. 32 / 45 |
Rs. 12 |
Execution Plan
| Condition |
Action |
| Below 1100 |
Buy 1100 PE |
| Above 1120 |
Buy 1120 CE |
| 1100 – 1120 |
No Trade Zone |
Why This Strategy?
| Factor |
Observation |
| Closing Price |
Rs. 1111.85 (near pivot zone & upper band) |
| Trend |
Bullish across all timeframes |
| Resistance Zone |
1115 – 1120 (call writing visible) |
| RSI |
59.23 (bullish, not overbought) |
| Option Data |
Strong put base at 1100, resistance at 1120 |
Support and Resistance (Option Chain Based)
| Type |
Levels |
| Immediate Support |
1105 – 1100 |
| Strong Support |
1095 – 1085 |
| Immediate Resistance |
1115 – 1120 |
| Strong Resistance |
1125 – 1135 |
Key Levels
| Level Type |
Price |
| Pivot Strike |
1110 |
| Downside Trigger |
1100 |
| Upside Trigger |
1120 |
PCR Analysis Today
| Strike |
PCR |
Interpretation |
| 1095 |
– |
Support emerging |
| 1100 |
1.01 |
Strong support |
| 1105 |
0.95 |
Neutral |
| 1110 |
– |
Balanced |
| 1120 |
0.31 |
Strong resistance |
| 1125 |
– |
Weak upside |
👉 Bias: Bullish above 1120, weak below 1100
Max Pain Today
| Metric |
Level |
| Max Pain Zone |
1105 – 1115 |
Intraday Strategy (Option Chain Based)
| Scenario |
Expectation |
Trade Strategy |
| Above 1120 |
Upside toward 1135 / 1145 |
CE Buy |
| Below 1100 |
Downside toward 1085 / 1075 |
PE Buy |
| 1100 – 1120 |
Sideways / Premium decay |
Avoid Trade |
Technical View Today
| Indicator |
Signal |
| Momentum |
Strong bullish with steady continuation |
| Bollinger Band |
Price near upper band — breakout zone |
| ADX |
27.21 — strong trend present |
👉 Trading Meaning: SBIN is in a strong bullish trend and trading near resistance zone (1115–1120). Option chain clearly indicates a consolidation range between 1100–1120. Traders should wait for a breakout above 1120 for upside momentum or breakdown below 1100 for downside trade. Avoid trading in the middle range where premium decay is high.
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