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Bank Nifty Analysis
Technical Analysis and 3 Strategies to deploy for Aggressive, Moderate, and Conservative Traders.
๐งต Weekly Bank Nifty Analysis for 4th Aug Expiry:
๐งต Weekly Bank Nifty Analysis for 4th Aug Expiry:
To form a view, let's have a look at:
1. Multi-timeframe Technical Analysis
2. Option Chain Data
Also, 3 strategies to deploy for:
1. Aggressive Traders (1.6%)
2. Moderate Risk Traders (1%)
3. Low-Risk Traders (0.6%)
1. Multi-timeframe Technical Analysis
2. Option Chain Data
Also, 3 strategies to deploy for:
1. Aggressive Traders (1.6%)
2. Moderate Risk Traders (1%)
3. Low-Risk Traders (0.6%)
1. Technicals
Let's start by doing some basic technical analysis.
We'll look at:
โข Weekly charts
โข Daily charts.
โข Hourly / 60 min charts.
Let's start by doing some basic technical analysis.
We'll look at:
โข Weekly charts
โข Daily charts.
โข Hourly / 60 min charts.
1. Weekly-
Buyers are in total control on the weekly timeframe.
Any dip till 34500 on the weekly timeframe should be bought.
Our bias is bullish or a pause for a week after such powerful momentum.
Buyers are in total control on the weekly timeframe.
Any dip till 34500 on the weekly timeframe should be bought.
Our bias is bullish or a pause for a week after such powerful momentum.
2. Daily:
โข Bank Nifty consolidated for 4 days last week between 36300 and 36800.
Any dip till 36300 will result in further buying coming.
This week seems like a pause week to me.
36000 on the downside and 38800 is the max range for me this week.
โข Bank Nifty consolidated for 4 days last week between 36300 and 36800.
Any dip till 36300 will result in further buying coming.
This week seems like a pause week to me.
36000 on the downside and 38800 is the max range for me this week.
3. Hourly
Higher High and Higher Low pattern is bullish.
If we get a closing below 36300 on the hourly chart, then only will I play bearish.
Bearish Marubozu on the hourly chart again yesterday in the very first candle, wait for that to get crossed to play bullish.
Higher High and Higher Low pattern is bullish.
If we get a closing below 36300 on the hourly chart, then only will I play bearish.
Bearish Marubozu on the hourly chart again yesterday in the very first candle, wait for that to get crossed to play bullish.
Strategies to deploy?
1. Aggressive Traders
Can sell 38500 calls & 36300 puts.
Exit points 38000 on the upside and 36700 on the downside.
ROI is around 1.6%
1. Aggressive Traders
Can sell 38500 calls & 36300 puts.
Exit points 38000 on the upside and 36700 on the downside.
ROI is around 1.6%
2. Moderate Risk Traders
Can sell 38800 calls and 36000 puts.
ROI is approximately 1%.
Can sell 38800 calls and 36000 puts.
ROI is approximately 1%.
3. Extremely Conservative Traders
Can sell calls of 39100 and puts of 35600. Fetches you approximately 0.6% ROI.
You guys should be targeting 2% per month and playing far away from spot levels of BNF.
4 expires per month to make 0.50% each week and end with 2%.
Can sell calls of 39100 and puts of 35600. Fetches you approximately 0.6% ROI.
You guys should be targeting 2% per month and playing far away from spot levels of BNF.
4 expires per month to make 0.50% each week and end with 2%.
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