Weekly Nifty and Bank Nifty options strategies for 22nd October Expiry

Share on:

Hey Folks! I hope you are safe and healthy in this COVID-19 pandemic. Every week in this weekly article, I’m sharing some valuable tips you should follow to be a disciplined trader along with weekly nifty and bank nifty options strategies for coming expiry.

What you think, My Weekly Nifty and Bank Nifty Options strategies are working for you? Am I  providing some valuable information in this weekly newsletter? Just share your feedback and your suggestions if you have any in the comment box.

This week was very tough for those option writers who just started their journey and trading with short straddle or strangles. One thing I want to share with your friend, Option writing is not for novice traders, It’s an advanced level in your Option Trading. And Risk Management is the only key to success here.

If you don’t have much experience, Knowledge, or any Risk Management skills, better take a risk in Option buying. At least you have limited risk there. In option writing, just one bad trade will wipe out all your capital and kick you out from this Market.

As I always say, stock trading is a serious business, and if you are doing it as a business, where you have made all the backup plans before you start that business, then only that business can survive for a longer time.

In my 9 years of stock trading experience, I have observed, it’s only a matter of survival because if you manage to survive in an unexpected movement, profit will come automatically.

So, If you don’t have any trading plan for your trading business or any road map to follow, it’s very difficult to make money here.

The market is smarter than you and me. We can’t beat it, nor we can predict it, we can only learn how can we protect our capital in any unexpected market movement. If we can manage to protect our capital, believe me, Profit will come automatically. So just focus on Capital protection, the rest market will do itself for you.

If you want to trade with Option hedging strategies and wanted to know how I’m managing my risk, can click on the below button to get the details about the Mentorship Program.

Weekly Nifty options strategies for 22nd October Expiry

nifty chart today

After made a low of 10790.20 on 24th September 2020 we saw a sharp recovery from lower levels. As I have shared in the last weekly article that 10800 – 11000 is the strong support zone and Nifty needs to sustain below for further downside levels. On the upside, 11600 – 11800 is the resistance that needs to break for further upside levels. If Nifty manages to sustain above this zone our next targets can be 12000 & 12250.

Last week we saw that Nifty has given a good breakout from the 11600 – 11800 resistance zone. This whole week, It manages to sustain above that zone but on Thursday, 15th October, we saw a sharp decline after hitting our first target of 12000 and closed around 11700.

Now, 11800 – 12000 is acting as a strong resistance zone and breakout from 12000 is required for further upside levels.

On the downside, 11500 – 11400 is an immediate support zone, and a sustainable breakdown required for a new sell signal for a target of 11000 & 10800.

Nifty is in a complete Uptrend but 12000 is a strong psychological level that needs to break for further upside levels. Here one thing you should keep in mind that after this good rally we can see Volatility is increasing which is generating a caution signal that a profit booking can happen. So trade with proper risk management.

[Free Updates and Level, click to follow on below networks]

Nifty weekly option chain analysis

Based on option chain data, the highest Open interest stands at 12000 CE & 11000 PE, followed by 11800 CE & 11700 PE. PCR of all strikes is 0.76, which indicates a neutral market. PCR at 11500 stands at 10, which is acting as an immediate support level.

The Put-call ratio at 12000 stands at 0.17, which is acting as a resistance level. Equally, important indicator Option Pain is at 11750, indicating weekly expiry at 11750. A shift in option pain will provide further levels of expiry. So keep tracking max pain.

Significant open interest buildup on CALL sides. Indicating good pressure from higher levels. So based on the OI, the possible range for this week should be 11500 – 12000.

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 to find the best Weekly nifty and bank nifty options strategies. Just enroll for our Option Strategies – A Mentorship Program.

Weekly Nifty options Strategies: Iron Condor

weekly nifty options strategies

Possible adjustments:

Initially, you can keep a stop loss of 11500 & 12000 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 2000₹).

If you find that Nifty is giving a breakdown and sustaining below 11500, 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 12000. You can shift your put spread to 300 points up.

If you want to learn how to find the Weekly nifty and bank nifty options strategies and its adjustments in more practical ways with live mentorship, You can enroll in our Option Strategies – A Mentorship Program.

[Free Updates and Level, click to follow on below networks]

Weekly Bank Nifty Options Strategies for 15th October Expiry

Bank Nifty chart today

In the last weekly article I have shared that 23000 – 23200 is the strong resistance zone and a breakout will give us some new upside levels.

Last week we saw an excellent rally that helped Bank Nifty to close above the previous resistance zone (23000 – 23200). This week Bank Nifty manages to sustain above this zone and made a high of 24190.35. Later on 15th October, we witnessed a sell-off from higher levels but still holding 23000 – 23200 zone which a good sigh for short to medium-term trend.

If Bank Nifty manages to sustain above 23000 – 23200, we may again see our targets 24000 & 24500. On the downside, 21000 – 20000 is acting as a strong support zone and a new sell signal will trigger only after a sustainable breakdown from this zone.

As per the chart, 23500 – 24500 is the range, we can expect for the coming weekly expiry. A breakout or breakdown will lead to further levels.

Weekly Bank Nifty options chain analysis

Weekly Bank Nifty options chain analysis

Based on Bank nifty option chain data, the highest Open interest stands at 24000 CE & 23000 PE, followed by 25000 CE & 21000 PE. PCR of all strikes is 0.81, which indicates a neutral zone. PCR at 23000 stands at 4.07, which is acting as an immediate support level.

The Put-call ratio at 24000 stands at 0.13, which is acting as a resistance level. Equally, important indicator Option Pain is at 23300, indicating weekly expiry at 23300. A shift in option pain will provide further levels.

If you don’t know how to do the bank nifty weekly options chain analysis to find your bank nifty options strategies, Just enroll for our Option Strategies – A Mentorship Program.

Bank Nifty option Strategies: Iron Condor

Weekly Bank Nifty options strategies

Possible adjustments:

Possible adjustments for this best Bank Nifty option Strategies are:

  1. Follow a stop-loss if the max loss is above 2000₹, close this strategy.
  2. If you find that Bank Nifty gives a breakdown and sustaining below 22400, 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 24100. You can shift your put spread to 1000 points up.

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

[Free Updates and Level, click to follow on below networks]

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

If you need More real-time assistance on how to find the Nifty and Bank nifty options strategies, Can take our premium subscription or open a trading account with us and you will get real-time assistance every month on the weekly analysis with Nifty and bank nifty options strategies. 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 selling 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 prediction?

The best strategy for Bank Nifty Future Intraday

We introduce a new BankNifty Future best strategy for Intraday. Giving a decent return consistently. Please check the link below for more information.


DISCLAIMER: – we are not a SEBI research analyst. Views or the weekly analysis with nifty and bank nifty options strategies 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

1 thought on “Weekly Nifty and Bank Nifty options strategies for 22nd October Expiry”

Leave a Comment

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