Weekly analysis with Nifty and BankNifty Weekly Options Strategy for 01st APR Exp

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Finally, A highly volatile expire has ended on 28th March. We have learned so many things in this expiry. One important lesson we have learned is, Keep yourself ready for the worst all the time. Every week in my weekly analysis and BankNifty Weekly Options strategy post, I’m saying that keeps more and more focus on risk management.

Many times people came and says why repeating the same thing again and again? My reason is simple. I just don’t want to see you in that pain we are getting after a huge loss. I just wanted to share whatever market taught me in my own trading journey.

I feel we both are from the same class and have limited resources. We just wanted to generate some small but consistent return with keeping our capital safe, so that we can fulfill our other obligations. That’s the reason we should focus more on risk management.

One more thing I wanted to share here. Always keep yourself focused on your goals. Goals like, How much is your expected return and to generate that return how much risk you are taking?

Successful trading is not rocket science but required years of dedication and hard work. Ask yourself first, How much time you are ready to give to reach that stage where you too can share your profitable screenshots on social media?

There is a dialogue in the “Three idiots” film, “Kamyabi ke Piche mat bhago, Perfection ka Picha Karo.” Don’t run behind everything, no one can be perfect in everything. Just focus on one thing and do it with perfection. You will reach your goal.

We need just one strategy to generate that consistent return. So just focus on that one which you feel can do with perfection. That’s it! Your job is done.

So today, take a break, sit and ask yourself. Are you doing the same thing which you want to do or just trying to copy someone else?

Nifty Weekly analysis with Options strategy

Nifty Weekly chart today

After some highly volatile weeks, this week we saw some recovery from lower levels. In the last nifty weekly analysis and options strategy post I have shared that 9100 – 8800 was a crucial support zone and nifty broke that zone without any effort.

Now this zone 9100 – 8800 is acting as a resistance zone. A breakout from 9100 will only give a buy signal to go long. Till then avoid any new long position.

On the downside, the crucial support zone is at 7000 – 6200. A breakdown from this zone will give some lower levels. Personally I’m not expecting a breakdown from this zone.

Now. the no-trade zone we are getting is 9100 – 6200. This is big but a no-trade zone and we can expect some range-bound activity till we are not getting any breakout or breakdown from these levels.

Nifty weekly Options Chain analysis

Nifty weekly open interest analysis

Based on option chain data, the highest Open interest stands at 10000 CE & 8000 PE, followed by 9000 CE & 8500 PE. PCR of all strikes is 0.74, which indicates a slightly oversold market. PCR at 8000 stands at 5.46, which is acting as an immediate support level.

The Put-call ratio at 9000 stands at 0.36, which is acting as a resistance level. Equally, important indicator Option Pain is at 11000, indicating weekly expiry at 11000. A shift in option pain will provide further levels of expiry. So keep tracking Max pain.

Significant open interest buildup on both the side, which indicates that the market is facing support from both the side. 

Keep tracking open interest to analyze market participant’s behavior. If you don’t know how to analyze open interest for weekly option hedging strategies. Just enroll for our Option Strategies – A Mentorship Program.

Nifty weekly Options Strategy: Iron Condor

Nifty weekly options strategy

Possible adjustments:

Initially, you can keep a stop loss of 9000 & 8000 for this strategy. Means square off if you find nifty is giving a breakout or breakdown. Or you can do this adjustment too.

If you find that Nifty is giving a breakdown and sustaining below 8000 then square off 8900 CE & 9100 CE in profit, and short 8400 CE and buy 8600 CE.

The same thing you can do with put spread means if you got a breakout from 9000. You can shift your put spread to 500 points up.

If you want to learn these 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 30th March.

BankNifty Weekly Analysis with options strategy

Banknifty weekly chart

After made a new 3 year low, we saw some recovery due to short covering from lower levels. It’s too early to say anything that this rally is sustainable or not.

We saw a sharp correction in Bank Nifty. Banknifty broke its major support zone (22000 – 20500) made a new 3-year low. Now 22000 – 20500 is acting as the strong resistance zone. A breakout from this zone will give us a new buy signal to go long.

On the downside, the Next crucial support zones are 18000 – 16500 and 13500 – 11000. I feel Bank nifty will sustain around 18000 – 16500 but nowadays sentiments are totally weak and it’s too early to say anything.

So better trade with proper hedge and keep your positions with limited risk on both sides.

Bank Nifty Weekly options chain analysis

Banknifty weekly open interest analysis

Based on option chain data, the highest Open interest stands at 22000 CE & 20000 PE, followed by 21000 CE & 19000 PE. PCR of all strikes is 0.67, which indicates a slightly oversold zone. PCR at 19000 stands at 4.96, which is acting as an immediate support level.

The Put-call ratio at 21000 stands at 0.26, which is acting as a resistance level. Equally, important indicator Option Pain is at 20000, indicating weekly expiry at 20000. A shift in option pain will provide further levels.

If you don’t know how to analyze open interest. Just enroll for our Option Strategies – A Mentorship Program.

BankNifty Weekly Options Strategy: Iron Condor

BankNifty Weekly Options Strategy

Possible adjustments:

If you find that BankNifty gives a breakdown and sustaining below 18600, then Shift your Call spread to 1500 points down.

The same thing you can do with put spread means if you got a breakout from 21300. You can shift your put spread to 1500 points up.

If you want to learn these Weekly expiry option strategies and their adjustments in more practical ways with live mentorship, You can enroll in our Option Strategies – A Mentorship Program(33% OFF).

Much Check this also– Performance of the Option strategies, Nifty & BankNifty Weekly Analysis with Option strategy, Nifty Option Strategy for Budget SessionA low-risk options strategy in LICHSGFINAn iron condor options strategy in ICICIBANKReverse Jade Lizard options strategy in UPLA high probability options strategy in YESBANK

Post your comments in the comment box if you have a query related to the Bank Nifty Weekly options hedging strategies. 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 options strategy Can take our premium subscription or open a trading account with us and you will get real-time assistance every month on these weekly options strategies. You can contact us on WhatsApp

*( 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.

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

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