Nifty & Bank Nifty weekly expiry strategy for 23rd July Exp

Share on:

This whole week we saw a range-bound activity in the market. Nifty and Banknifty both are trading in the predefined range I have shared in the last weekly post. Read this post to know the range for the coming week with nifty and bank nifty weekly expiry strategy for the 23rd July Expiry.

Before we jump directly to our nifty and bank nifty weekly expiry strategy, let us discuss about one important and most asked question, I’m getting from our fellow traders.

  • How to control our emotions during trading?

Before I answer this question, let me tell you one thing about the share market. This share market is standing on human emotions. Human emotions like “Fear and Greed”. We all know that but not following.

We already know that every decision we are making because of Fear or Greed will lead to bad trade but still, we are doing the same mistake again and again. Why?

This is the question you have to ask yourself. You are the ones who can give the best answer. Because no one else knows your better than yourself.

We have read many articles, watched many videos that are telling that 90% trader fails in this market. But why? Why 90% of traders fail in this market?

I feel it’s their human behavior that sets a successful trader apart from the rest. Reading and watching are important but without implementation, nothing will work. We know everything but we are not taking any action to bring that change in our behavior. and if we can’t take that action, no one can take it for us. Later, we would have just 2 options. Either we can blame that our broker/advisor is fraud or share market is the place of gambling.

What you want to do?

In this digital world where we have all the resources by just pressing few clicks, It’s important to teach ourselves just one thing. That is;

Without implementation, Nothing will work.

Don’t just look at others. Look at yourself. Tell yourself that you have all the resources, you have all the experience from your past mistakes, Now just one thing you need to do is: “Start implementing“.

Start implementing, do some mistakes, learn from your mistakes, and Make a habit, “Do not repeat your mistakes”. These are the only 4 actions you need to follow that will help, not to be only a successful trader but to be a successful person in every field of your life.

So today, promise yourself that you will take that action to bring that change in your life. I want to see you an action-taker who can win in every situation of his life. If you need any help of mine, just ask me anytime.

Nifty Weekly analysis with Nifty weekly expiry strategy

Nifty chart today

After a good breakout from 10575, nifty has managed to sustain above this important support level (which was the resistance previously). As I shared in the last weekly newsletter, that after a breakout next target would be 11200 – 11400.

As per the chart, nifty is in the complete grip of bulls. Here, 11000 is playing a major resistance level and 10500 is playing as an immediate support level. We can expect a rangebound activity until we are holding this range (11000 – 10500).

I believe in reacting instead of predicting. and right now Nifty is indicating a complete UP Trend which is good for long term investments.

Nifty Weekly expiry option chain analysis

Nifty weekly expiry open interest

Based on option chain data, the highest Open interest stands at 10800 CE & 10700 PE, followed by 11000 CE & 10600 PE. PCR of all strikes is 1.21, which indicates a neutral market. PCR at 10600 stands at 5.55, which is acting as an immediate support level.

The Put-call ratio at 11000 stands at 0.08, which is acting as a resistance level. Equally, important indicator Option Pain is at 10800, indicating weekly expiry at 10800. A shift in option pain will provide further levels of expiry. So keep tracking max pain.

Significant open interest buildup on both sides from 10600 to 11000. Indicating that Nifty is facing good support from both the side and expecting to be in a range only. So based on the OI, the possible range for this week should be 10600 – 11000.

Keep tracking change 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 weekly Expiry strategy. Just enroll for our Option Strategies – A Mentorship Program.

Nifty weekly expiry Strategy: Iron Condor

Nifty weekly expiry strategy

Possible adjustments:

Initially, you can keep a stop loss of 10600 & 11000 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 is loss is more than 2200₹).

If you find that Nifty is giving a breakdown and sustaining below 10600, 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 11000. You can shift your put spread to 300 points up.

If you want to learn these Nifty and BankNifty weekly options strategies and their adjustments in more practical ways with live mentorship, You can enroll in our Option Strategies – A Mentorship Program (33% OFF, valid till 20th July Expiry).

Bank Nifty Weekly analysis with bank nifty weekly expiry strategy

bank nifty weekly expiry strategy analysis

After made a high of 23080.60, we saw that bank nifty gave a breakdown from 22500 last week which was a crucial resistance level.

As i have shared in the last weekly analysis post that 21000 is the net support level for banknifty. Same thing we saw this week. Banknifty took a support around 21000.

Same range (21000 – 22500) applies for this week too. Follow this range to make a range bound strategy.

Bank Nifty weekly expiry option chain analysis

Bank nifty weekly expiry open interest analysis

Based on Bank nifty option chain data, the highest Open interest stands at 22000 CE & 21000 PE, followed by 22500 CE & 21500 PE. PCR of all strikes is 0.81, which indicates a neutral market. PCR at 21000 stands at 9.17, which is acting as an immediate support level.

The Put-call ratio at 22000 stands at 0.15, which is acting as a resistance level. Equally, important indicator Option Pain is at 21600, indicating weekly expiry at 21600. A shift in option pain will provide further levels.

If you don’t know how to do the banknifty weekly option chain analysis, Just enroll for our Option Strategies – A Mentorship Program.

Bank Nifty weekly expiry Strategy: Iron Condor

Bank Nifty weekly expiry Strategy

Possible adjustments:

If you find that BankNifty gives a breakdown and sustaining below 20800, 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 23000. You can shift your put spread to 1000 points up.

If you want to learn these bank nifty weekly expiry strategy and their adjustments in more practical ways with live mentorship, You can enrol in our Option Strategies – A Mentorship Program(33% OFF).

Post your comments in the comment box if you have a query related to the Nifty and Bank Nifty weekly expiry strategy. You can ask any question related to option trading in the comment box.

If you need More real-time assistance on Nifty and Bank nifty weekly analysis and options strategies, Can take our premium subscription or open a trading account with us and you will get real-time assistance every month on these nifty and Bank nifty weekly expiry strategy. You can contact us on WhatsApp

*( Please avoid any question like which Call or Put we should buy in the coming week).


Options Strategies – A Mentorship Program

On September 01, 2019, We have launched a new mentorship program for Option strategies, in which we’ll discuss how can we deploy these Options strategies? What rules we should follow before taking a trade? And what should be our adjustments if the script is moving against your direction?

The best strategy for Bank Nifty Future Intraday

We Introduce a new BankNifty Future strategy for Intraday. Gave a decent return consistently. Please check the link below for more information.


DISCLAIMER: – we are not a SEBI research analyst. Views or the nifty and bank nifty weekly expiry strategy 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.

Share on:

8+ Years working as a derivative trader, Option Writer, Blogger, Trader by passion, Keen Follower of Indian share market

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.