Else, it should trade in a range of 20,000 to 20,200, given that it will be a truncated week.Nifty has crossed the all-time highs, but all sectors are not trading at their all-time highs. Bank Nifty is trading close to an all-time high, but the price to book multiple is still cheap at 2.84x. Traders can opt for a Bull Call spread in Bank Nifty by buying a 46,200 Call and selling a 47,000 Call in the monthly expiry. Bank Nifty, once the 46,400 mark is taken out, will see a fresh breakout along with the negation of the bearish Wolfe Wave pattern. This can result in a fresh rally towards 47,000 or higher levels in the bank index.

Source: Economic Times September 18, 2023 13:47 UTC