Nifty Weekly Options Strategy for November 28, 2024 Expiry | Profitable Options Trading

Options trading is a complex yet rewarding financial instrument that allows traders to profit from market movements without directly owning underlying assets. However, success in options trading hinges on a well-defined strategy. With the November 28, 2024 expiry approaching, the Nifty 50 index presents a dynamic landscape for traders.

In this blog post, we will delve into a proven weekly options strategy designed to capitalize on the potential volatility of the Nifty 50. By understanding the current market conditions, identifying key support and resistance levels, and implementing a disciplined approach, traders can significantly enhance their chances of achieving profitable outcomes.

Nifty Weekly Options Strategy for November 28, 2024 Expiry

Before we examine the weekly option strategy in depth, we need to analyse the overall trend and important levels of Nifty50.

If you look at the chart, you will find that after a breakout from 23800, Nifty entered in the bearish territory.

Now 23800 is acting as the immediate resistance and 23200 is acting as immediate support for the coming sessions.

The overall trend is down, but we can expect range-bound activity until the Nifty is trading between 23200 and 23800.

Open Interest also indicates that max pain is at 23500. Immediate support is at 23300 and 23700 is acting as immediate resistance based on the PCR.

By following these levels we can create a range-bound strategy.

Nifty Weekly Options Strategy for November 28, 2024 Expiry

Below is the weekly option strategy based on the levels, mentioned above.

I'm keeping a very nominal risk for it.

Adjustments for Nifty Weekly Option Strategy

I prefer to keep my trading setup very simple. So as my adjustments too.

If Nifty goes below and I find the premium of our bought Call went below 60%. We book the bought call and bring it down to 23600.

Same as for the Put side. This means If Nifty goes UP, we will bring out bought PE to 23400 from 23300.

The idea is to reduce the spread and convert it into a no-loss option strategy.

If you want to learn and get the adjustments on realtime basis, can upgrade your subscription and join our premium telegram channel.

Below is the strategy that we shared with our students on Friday and Converted into a no-loss today with a minimum profit of 3%.

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Disclaimer: This analysis is purely for informational purposes and does not constitute investment advice. Trading involves risk, and you should always conduct your own research and consult with a financial advisor before making any investment decisions.