Here is a re-look at a chart I had posted about 2 weeks back on the BankNifty in this post here- : http://www.vtrender.com/content/bankniftys-distribution
In that post – the market would move to efficiency by operating within the low volume zone for a few sessions.This zone is roughly 10370- 10530 on the spot and volume filling is required here.
Here is an updated chart :
The volume is beginning to be centered around 10500 spot and writers of the 10500 straddle have seen the straddle dip from 395 to about 270 currently.
The best part is that the process of filling up is not done yet and the straddle will see more gains.