Technical Analysis and 3 Strategies to deploy for Aggressive, Moderate, and Conservative Traders.
🧵Weekly Bank Nifty Analysis for 25th August Expiry:
🧵Weekly Bank Nifty Analysis for 25th August 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 (2.4%)
2. Moderate Risk Traders (1%)
3. Low-Risk Traders (0.5%)
1. Multi-timeframe Technical Analysis
2. Option Chain Data
Also, 3 strategies to deploy for:
1. Aggressive Traders (2.4%)
2. Moderate Risk Traders (1%)
3. Low-Risk Traders (0.5%)
1. Technicals
Let's start by doing some basic technical analysis.
We'll look at:
• Weekly charts.
• Daily charts.
• Hourly / 60 min charts.
• 15 min charts.
Let's start by doing some basic technical analysis.
We'll look at:
• Weekly charts.
• Daily charts.
• Hourly / 60 min charts.
• 15 min charts.
1. Weekly-
• The market is taking a pause after 4 continuous bullish weeks.
• Can resume buying above current week high.
• Below current week low can be bearish and book profits quickly as this is the first pause after the upmove.
Longer term trend is bullish only.
• The market is taking a pause after 4 continuous bullish weeks.
• Can resume buying above current week high.
• Below current week low can be bearish and book profits quickly as this is the first pause after the upmove.
Longer term trend is bullish only.
2. Daily:
• Candlestick pattern—Bearish Marubozu on the daily timeframe.
• Chart Pattern—Broke last 3 days low decisively.
Sellers are in control so until we close above the red candle's high cant take aggressive bullish positions.
• Candlestick pattern—Bearish Marubozu on the daily timeframe.
• Chart Pattern—Broke last 3 days low decisively.
Sellers are in control so until we close above the red candle's high cant take aggressive bullish positions.
3. Hourly
• Tested 39300 level twice and then broke on Friday
• BNF is trading in the channel as attached.
• Unless bank nifty trades 50% above of the fall it made on Friday, won't look for any put sell positions.
Won't be surprised to see 38000-38300 this week.
• Tested 39300 level twice and then broke on Friday
• BNF is trading in the channel as attached.
• Unless bank nifty trades 50% above of the fall it made on Friday, won't look for any put sell positions.
Won't be surprised to see 38000-38300 this week.
4. 15 mins
Expecting more downside in Bank Nifty if it sustains below the flag it is currently making.
Check out @niki_poojary's handle for updates during live market.
Even on Friday, it made a flag and channel breakdown intraday which is why we sold calls aggressively.
Expecting more downside in Bank Nifty if it sustains below the flag it is currently making.
Check out @niki_poojary's handle for updates during live market.
Even on Friday, it made a flag and channel breakdown intraday which is why we sold calls aggressively.
Option chain data:
• Opstra shows that the options chain data is bearish.
• Call sellers are very confident and writing all call strikes whereas put writers are adding very less positions.
• Data is matching with our bias and technicals which are bearish or sideways.
• Opstra shows that the options chain data is bearish.
• Call sellers are very confident and writing all call strikes whereas put writers are adding very less positions.
• Data is matching with our bias and technicals which are bearish or sideways.
Strategies to deploy?
1. Aggressive Traders
Aggressive traders would have sold calls as market closed at day low.
For eg, 39600 calls strike which was the 10 AM high level on Thursday.
ROI is around 2.40%
1. Aggressive Traders
Aggressive traders would have sold calls as market closed at day low.
For eg, 39600 calls strike which was the 10 AM high level on Thursday.
ROI is around 2.40%
2. Moderate Risk Traders
Can sell 40100 calls of the current expiry.
ROI is approximately 1.03%.
Can sell 40100 calls of the current expiry.
ROI is approximately 1.03%.
3. Conservative Traders
Can sell 40500 calls. Fetches you approximately 0.56% 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 40500 calls. Fetches you approximately 0.56% 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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Check out @niki_poojary's analysis which she will post before Monday, hers is a bit different from mine each time.
Retweet the first tweet and help others find this Thread.
Check out @niki_poojary's analysis which she will post before Monday, hers is a bit different from mine each time.
Retweet the first tweet and help others find this Thread.
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