Nifty & BankNifty Weekly Analysis with Option strategy for 9th Jan Exp

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Hello guys. I wish you a very happy new year. I started this Nifty and Bank Nifty weekly analysis and option strategy post last year and I thank to all of you guys, who show their love and support. Will try to do something better this year 2020.

Last year we saw very high volatility due to some domestic and global events. But all is well that ends well. In the last 3 months, we got some very good trades, which helps to close last year with a decent return. you can check some of our trades by click here

Now what we can expect in 2020? As you know the market is trading at an all-time high. The overall trend is UP and looking strong. Right now the market is in a BUY-ON-DIPS mode. I will share a detailed analysis of some of the sector indices in my coming blog posts. Please follow my blog.

Nifty weekly analysis with option strategy

Nifty chart today

As I shared in my last weekly analysis and option strategy post that the overall trend is UP. After given a breakout from 12150, Nifty is consolidating in a range only.

12500 is the immediate resistance based on current data. My short to medium term targets are 12700 and 13200. On downside still, I’m keeping 11800 as a stop loss.

For a weekly perspective. 12360 is acting as a strong resistance. A breakout will lead to 12560. Now if we focus on the weekly range that should be 12100 – 12500.

Nifty Option Chain analysis

Nifty weekly open interest

Based on option chain data, the highest Open interest stands at 12300 CE & 12200 PE, followed by 12250 CE & 12000 PE. PCR of all strikes is 1.15, which indicates a neutral market. PCR at 12100 stands at 10 , which is acting as an immediate support level.

The Put-call ratio at 12300 stands at 0.30, which is acting as a resistance level. Equally, important indicator Option Pain is at 12250, indicating weekly expiry at 12250. A shift in option pain will provide further levels.

Significant open interest buildup on CALL sides, Especially 12200 CE, 12250 CE & 12300 CE, which indicates that the market is facing some pressure from the higher side. Based on Option chain data, 12200, 12100 are good support levels & 12300 & 12400 are good resistance levels for this expiry.

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

Nifty Weekly Option Strategy: Iron Condor

Nifty weekly option strategy

Possible adjustments:

If you find that Nifty is giving a breakdown and sustaining below 12100, then square off 12250 CE & 12400 CE in profit, and short 12200 CE and 12350 CE.

The same thing you can do with put spread means if you got a breakout from 12350. You can shift your put spread to 50 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.

Banknifty Weekly analysis with option strategy

Banknifty chart today

Banknifty is trading in a tight range of 32000 – 32500. A breakout or breakdown is required for further levels. The Overall trend is UP.

On downside 32000 – 31000 is the range which is acting as a strong support zone. We should keep our strategy as a BUY-ON-DIPS until bank nifty is trading above 31000.

Below 31000 we may see some weakness in Bank nifty. So keep 31000 as a stop loss in your long trade. As you can see Bank nifty is trading in a range only, so this is a good time to initiate non-directional strategies.

Bank Nifty option chain analysis

Bank nifty open interest chart

Based on option chain data, the highest Open interest stands at 32500 CE & 32000 PE, followed by 32300 CE & 31500 PE. PCR of all strikes is 0.77, which indicates an oversold market. PCR at 32000 stands at 3.84, which is acting as an immediate support level.

The Put-call ratio at 32500 stands at 0.17, which is acting as a resistance level. Equally, important indicator Option Pain is at 32200, indicating weekly expiry at 32200. 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.

Bank Nifty Weekly Option Strategy: Iron Condor

banknifty weekly option strategy

Possible adjustments:

If you find that BankNifty gives a breakdown and sustaining below 31800, then Shift your Call spread to 200 points down.

The same thing you can do with put spread means if you got a breakout from 32500. You can shift your put spread to 200 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.

Much Check this alsoBest Option strategy for a sideways movement in PNBA high probability option strategy in NIITTECH,  Modified Condor Option Strategy in VEDLBull Call Ladder in ZEEL,  Iron Condor in SBINWeekly Analysis & Option Strategies For 21st Nov Exp, Why People Lose Money & Nifty and Bank nifty index analysis with Option Strategy A high probability options strategy in YESBANKBull Call ladder strategy in ITC for OCT Expiry

Post your comments in the comment box if you have a query related to the Weekly option strategy. You can ask any question related to options trading in the comment box.

If you need More real-time assistance on Nifty and Banknifty weekly option 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 option strategies. You can contact us on WhatsApp.


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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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