Lets start. This is going to be a long tweet. Please read seriously, your option journey will travel serious distance.

We will use 40500CE and BNF chart to get hold of the things.

Below is 1min chart of 40500CE weekly from 9/9/22 onwards. This week started from 9/9/22(Friday). This CE opened at 430 and hit a high of 499 at 10.35 AM.

The Corresponding level on BNF on 9/9/22 were BNF opened at 40601 and hit a high of 40753 at 10.38 AM.

Then on 12/9/22 BNF crossed 40753 and hit a high of 40770 at 12.40 PM (see the arrow in chart).

At the same time 40500CE hit a intraday high of 458 at 12.40 PM(see the arrow on chart).

Means BNF made new high by 20 points while this CE still fell short by 40 points approx.

So we can say that the chances of BNF moving higher is lower, reason being ITM CE is not making new high on Monday. (Forget - THEETA , GAMMA, MEETA----STAY WITH ME)

Now on 13/9, We opened gap up and made a new high of 40915 at 9.46 AM and then again this high was crossed at 2.47 PM at 40977. (Arrow dekho).

At same time , this CE made a high of 517 at 9.45 AM and then new high of 545 at 2.47 PM.