Derivatives India VIX fell down by 2.58% from 20.31 to 19.78 levels. Lower volatility and a hold below 20 zones could continue to keep buy on declines strategy in the market. On option front, Maximum Put OI is at 14000 followed by 14500 strike while maximum Call OI is at 15000 followed by 16000 strike. Minor Call writing is seen at 15000 then 15200 strike while minor Put writing is seen at 14800 strike. Option data suggests a wider trading range in between 14500 to 15200 zones. Bank Nifty opened negative and remained negative to range bound for most part of the session on Friday. Banking stocks are witnessing weakness and dragged the index to 32300 levels. It finally concluded with losses of around 330 points. It formed a Bearish candle on weekly as well as daily scale. Long upper shadows during the day indicates selling pressure at higher zones. Now till it remains below 33333 zones, weakness could continue for the downside move towards 32000 and 31500 zones while on the upside hurdles are seen at 33000 and 33333-33500 zones.