1)Stochiastic is not in over sold condition. 2)Any dip towards the lower line of the channel can be bought. with strict stop loss if hourly candle closes below the lower line of the channel. 3)Prior bullish move supports only buy on dip. only volume not supporting this bullish move 4)If in deed bulls are in control bank nifty may try to rise as per the set up described. 5)Naked option position for the weekly option is not at all preferred at this stage. 6) Don't forget to like my post. follow me to get updates.