Technical Analysis and 3 Strategies to deploy for Aggressive, Moderate, and Conservative Traders.
🧵 Weekly Bank Nifty Analysis for 17th November Expiry:
🧵 Weekly Bank Nifty Analysis for 17th November 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 (1.12%)
3. Low-Risk Traders (0.66%)
1. Multi-timeframe Technical Analysis
2. Option Chain Data
Also, 3 strategies to deploy for:
1. Aggressive Traders (1.6%)
2. Moderate Risk Traders (1.12%)
3. Low-Risk Traders (0.66%)
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 took a pause for 2 weeks and has given the highest weekly close.
• Can resume buying above current week high.
• Below the current week's low any down move look for buying opportunities only.
Longer term trend is super bullish.
• The market took a pause for 2 weeks and has given the highest weekly close.
• Can resume buying above current week high.
• Below the current week's low any down move look for buying opportunities only.
Longer term trend is super bullish.
2. Daily:
• Candlestick pattern—Doji on the daily timeframe.
• Chart Pattern—Gap up above 3-day high.
Doji means indecision, so only below yesterday's low, can we initiate call-selling positions again, otherwise only put sells.
• Candlestick pattern—Doji on the daily timeframe.
• Chart Pattern—Gap up above 3-day high.
Doji means indecision, so only below yesterday's low, can we initiate call-selling positions again, otherwise only put sells.
3. Hourly
• Gave a rectangle breakout on the hourly chart and has gone up.
• If you get Bank Nifty at 41500, since it's a support, can look for put selling opportunities.
• Bearish only below the rectangle low of 40800.
• Gave a rectangle breakout on the hourly chart and has gone up.
• If you get Bank Nifty at 41500, since it's a support, can look for put selling opportunities.
• Bearish only below the rectangle low of 40800.
4. 15 mins
Not finding any good trendlines in Bank Nifty.
Check out @niki_poojary's handle for updates during live market.
Above yesterday's high, will look to add put sells on every higher high.
If breaks yesterday's low can short calls but far otm only.
Not finding any good trendlines in Bank Nifty.
Check out @niki_poojary's handle for updates during live market.
Above yesterday's high, will look to add put sells on every higher high.
If breaks yesterday's low can short calls but far otm only.
Option chain data:
• Opstra shows that the options chain data is bullish.
• Put sellers are confident & writing ATM put strikes whereas call writers are adding less positions in nearby strikes.
• Data is matching with our bias and technicals which are bullish or sideways.
• Opstra shows that the options chain data is bullish.
• Put sellers are confident & writing ATM put strikes whereas call writers are adding less positions in nearby strikes.
• Data is matching with our bias and technicals which are bullish or sideways.
Strategies to deploy?
1. Aggressive Traders
Aggressive traders would have sold 41500 puts as that's the rectangle breakout level.
For eg, the 41500 puts strike which is trading around 90 rs.
ROI is around 1.60%
1. Aggressive Traders
Aggressive traders would have sold 41500 puts as that's the rectangle breakout level.
For eg, the 41500 puts strike which is trading around 90 rs.
ROI is around 1.60%
2. Moderate Risk Traders
Can sell 41300 puts of the current expiry.
ROI is approximately 1.12%.
Can sell 41300 puts of the current expiry.
ROI is approximately 1.12%.
3. Conservative Traders
Can sell 41000 puts. Fetches you approximately 0.66% 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 41000 puts. Fetches you approximately 0.66% 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%.
If you ❤️ this analysis and derived some value from it, consider liking and sharing the first tweet.
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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