Banknifty CEs are trading at par or discount, but the PEs are at a premium. I wonder if it is going down further.
@Raj232 , check this : Banknifty spot = 47160, so the fair value of 47300 PE is 140, but it is going at around 200 i.e
60 Rs. premium.
Now see this : Banknifty spot = 47140, and Banknifty CE 46900 fair price is about 240. That's is where it is trading, so it is at par. If trades below 240, then it would be called discount.