I hope you're all doing well and staying safe. I've been sharing option selling strategies for Nifty and BankNifty every week, and I'm getting great feedback. Some people are using them as a free resource to get tips, while others are using them as an opportunity to learn.
I appreciate both approaches, but I believe in education. The only way to become a successful trader is to continue learning and growing. These free tips can give you short-term gains, but for long-term survival, you need a proper understanding of what you're doing.
So instead of just following the tips, try to understand the logic behind them. Why is this strategy working? What are the risks involved? What are the different ways to adjust the strategy if the market moves against you?
If you need any help, I'm always here to answer your questions. Just ask in the comment box and I'll be happy to help.
But the most important thing is to take action. Don't wait for the perfect strategy or the perfect market conditions. Just start trading and learn as you go.
I know a lot of you have been following the market for years, but you're still not seeing consistent returns. Why is that?
It's because you're not analyzing the market. You're just following tips or searching for free advice. You're hoping that someone will give you the magic formula to make millions.
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In addition to the information I've already shared, I'd like to add that option selling is a great way to generate consistent income from the market. By selling options, you can collect a premium for taking on the risk of the underlying asset moving against you. This can be a very profitable strategy, but it's important to understand the risks involved and to develop a sound trading plan.
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Nifty Prediction for next week with option selling strategies
Week starts on a positive note but we saw some profit booking in the last 3 trading sessions. I have shared in the last weekly analysis and option selling strategies post that 19300 - 19500 is the range that is acting as the support zone. A breakdown from 19300 will lead to further downside levels.
On Thursday, Nifty hit the support level i.e. 19300 but couldn't sustain below this level. That's a relief for those who are holding long positions. Now this level is important for further downside levels.
For me, a short trade will trigger only below 19100 - 19000. This means I will not short Nifty till I'm not getting any breakdown from 19000. On the Upside. 19750 which will trigger a long trade again. So for the next week, we can follow the 19300 - 19700 range for range-bound strategies.
Before we go any further, I'd like to share what I've observed over the course of my trading career:
Market always goes against the noise. So whenever you see that everyone is predicting about a fall, that’s a good time to go long.
Many will start arguing that there is no positive news for the economy, market, etc… then why the market is going UP? It will fall soon. I say that I don’t know about all these things, nor I’m following. I’m just following the market. The market is Positive which means I’m long. And when the Market will give a sell signal I will reverse my position.
I don’t have any intention to beat the market. I’m happy with the market.
Our ultimate goal is how to make money. We are not here to show how good we are at predicting the market. Right?
When I can make money by reacting based on the market why should I focus on predicting the market? What you feel, is it make sense? Tell me in the comment box.
So based on the chart: Nifty is in Up Trend and the range for the coming week is 19300 - 19700. A sustainable breakout from 19700 will lead to the next target of 20500. Where on the downside, the breakdown from 19300 will hit the next target of 19000.
Nifty Prediction for next week based on OI data
Based on option chain data, the highest Open interest stands at 19500 CE & 19400 PE, followed by 19600 CE & 19500 PE. PCR of all strikes is 0.9, which indicates a neutral market. PCR at 19300 stands at 6.4, which is acting as an immediate support level.
The Put-call ratio at 19700 stands at 0.19, which is acting as a resistance level. Equally, important indicator Option Pain is at 19500, indicating weekly expiry of around 19500. A shift in option pain will provide further levels of expiry. So keep tracking max pain.
Significant open interest buildup on both sides. Indicating that Nifty is facing good pressure from both sides and expecting to be in a range only. So based on the OI, the possible range for this week should be 19300 - 19700.
Keep tracking changes in open interest to analyze market participant’s behavior, so that you can adjust your position accordingly. If you don’t know how to analyze open interest for nifty and bank nifty option selling strategies. Just enrol for our Option Strategies – A Mentorship Program.
Nifty option Strategy: Mourse Ear Iron Condor
Possible adjustments for this Nifty weekly strategy:
Initially, you can keep a stop loss of 19250 & 19750 for this strategy. Means square off if you find nifty is giving a breakout or breakdown. Or you can do this adjustment too. ( Do not hold this strategy if the loss is more than 5000₹ per lot).
If you find that Nifty is giving a breakdown and sustaining below 19250, then square off call spread and bring it down to 300 points lower levels.
The same thing you can do with put spread means if you got a breakout from 19750. You can shift your put spread to 300 points up.
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BankNifty Prediction for next week with option selling strategies
After a profit booking this week, BankNifty has taken support at a very important level i.e. 44500. Now if Banknifty manages to hold this level, then it will be a good level to take a long entry while keeping stop loss just below Thursday's low i.e. 44279.
This is my preferred entry point, as the script took support around an important support level after booking some profit. This setup allows us to take entry with a low stoploss.
If Banknifty manages to sustain above 44500 for a minimum of 3 days then this level will act as a good support level and we can expect some higher targets in the coming session. Failing to sustain above 44500 will trigger a short signal for the target of 43100.
The overall trend is UP but 44500 will act as a make-or-break level in the coming expiry.
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BankNifty Prediction for next week based on OI data
Based on Bank nifty option chain data, the highest Open interest stands at 45000 CE & PE, followed by 46000 CE & 44500 PE. PCR of all strikes is 0.96, which indicates a neutral market. PCR at 44500 stands at 4.55, which is acting as an immediate support level.
The Put-call ratio at 45500 stands at 0.17, which is acting as a resistance level. Equally, important indicator Option Pain is at 45000, indicating weekly expiry of around 45000. A shift in option pain will provide further levels.
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Bank Nifty weekly expiry Strategy: Mouse Ear Iron Condor
If you find that BankNifty gives a breakdown and sustains below 44200, then Shift your Call spread to 1000 points down.
The same thing you can do with put spread means if you got a breakout from 45800. You can shift your put spread to 1000 points up.
If you want to learn these bank nifty weekly options strategies and their adjustments in more practical ways with live mentorship, You can enrol in our Option Strategies – A Mentorship Program.
Post your comments in the comment box if you have a query related to the Nifty and BankNifty option selling strategies. You can ask any question related to options trading in the comment box.
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*( Please avoid any question like which Call or Put we should buy in the coming week).
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DISCLAIMER: – we are not a SEBI research analyst. Views posted here only for educational purposes. There is no liability whatsoever for any loss arising from the use of this product or its contents. This product is not a recommendation to buy or sell, but rather a guideline to interpreting specified analysis methods. This information should only be used by investors and traders who are aware of the risk inherent in securities trading.