Weekly Options Strategy: A close above 39,000 would be important for any short covering move on Bank Nifty

Due to elevated bond yields and depreciation in INR, we don’t expect any major outperformance and the index should perform in line with Nifty. However, at the start of the October series, the index has moved near to its Call base of 39000 and a close above 39000 would be important for any short covering move.