The underlying chart gives us the data but it is important to look into the options chart for the trade.
We normally wait for the breakouts to happen in the underlying chart but they happen way ahead in the options chart. By the time we take a trade in the options, it would have been late in options pricing.
Below is the bank nifty options chart
You can see...
Prediction: Since there is Jackson Hole Event, chances are that market wont leave their position open. Hence, there are high chance that we see Bank Nifty down tomorrow. Further, 35600 is important support. Next support will be 35350-00. Below 35300 don't forget to short with SL 35375.
Pattern: An ascending triangle is a chart pattern used in technical analysis....
Last day Bank Nifty closed in its supply zone @ 26400-26470. Also, this is a middle zone if it’s a major supply and demand zone. If Bank Nifty will manage to sustain above this zone then it may test its next supply zone @ 26800-27050. Sustain above 27050 it may test its next supply zone @ 27150-27300.
I am expecting one bounce and don't think so Bank Nifty will...
Bank Nifty closed in its supply zone @ 30800-31020. If BNF will sustain above this zone then it may test its next supply zone @ 31275-31375 but in any case, if it will sustain below this zone then it may test 30650 then it may test lower level.
Bank Nifty Weekly Demand Zones:
30450-30500 & 30150 & 30820-30900 & 29600-29670.
Bank Nifty Weekly Supply Zones:
30900-31120 & 31450-31650 & 31900-32100
BNF may give a strong downside moment once it will sustain below 30500. I will be bullish once it will sustain above 31560 in this week.
BNF is trading near its supply zone. Tomorrow if BNF will sustain above 31550-600 then I may go long and below 31300 I may go short.
Please find the supply and demand zones in the chart.
Bank Nifty: Supply and Demand Zone for Expiry Trading
Demand Zone @ 31020-31100 and 30600-30450 and resistance @ 31440
On Tuesday there is a possibility that Bank Nifty may underperform. If it will sustain below 31100 then it will get a first bearish signal. I will go short in once it will sustain below 30900.
The above view will change If it will manage to sustain above 31100.
Please find the Trading Zones in the chart.
I am carrying my long position from 30300 (spot). Every breakout of supply zone I added my long position. Find the link below.
Tomorrow if it will sustain above 31050 then I will for the target of 30160. If it will sustain above 31160 then I will add a more long position and my next target will be 31300-31380. If it will...
Bank Nifty Major Demand Zone @ 29530-29650 and major supply zome @ 30500-30600. Today it closed the middle of this range.
Tomorrow if Bank Nifty will sustain below 30000 then I may sell out of the money calls and If it will sustain above 30120 then I will go long for the target of next supply zone.
Bank Nifty Major Demand Zone @ 29580-29660. If it will sustain below this zone then 1000 point downside range will open but my seance is that it will hold this zone. On the upside Next Supply Zone @ 30000-30120.
On Monday, I want to see in the first 30 mins to 1 hour that I want to see it's trading range then only I will make any trading plan.
Please find the next supply and demand zones in the chart.
Today was a perfect juicy short trade but I think now juicy short trade is over. On the down side there are multipal demand zones. In any case if it will break last low near 30600 then it may test next demand zone @ 30350-30450.
In this case I will take my trades through option writing.
In previous week Bank Nifty filled the one pending gap @ 31800-31870. After all time high BNF is making lower low and higher low.
In this week important 1st important level to hold is 31050-31150 and 2nd is 30600-30650. Below 30600-30650 it may test 30350-30400-30450 which is a next strong demand zone.
If BNF will hold 31050 and 30600 then it may trade...
Bank Nifty may be stronger then Nifty in coming days.
Major Supply Zones @ 31530 and 31750
Minor Demand Zone @ 31070-31150
Let's see on Monday weather it will hold it's minor demand zone or not. If it will manage to hold this level then this demand zone will get more stronger.
Option Writing will be the best strategy instead of Future trading because...
Please find the Supply and Demand Zones in the chart.
My Intraday Plan:-
1. If it will sustain above 311350 then I may take a long position for the target of next supply zone.
2. If it will not manage to sustain above 31050-31150 then I may sell 30500 Put because it's not easy to break and sustain below 30450-30500.
Bank Nifty Short Strangle strategy for 20_12_2018 expiry
Sell 2 lots of 27800 CE at 9
Sell 2 Lots of 27700 CE at 13.25
Sell 2 lots of 25900 PE at 19.75
Sell 2 lots of 25800 PE at 16
Total points gained = 58
Profit = 58*40 = 2320
Upper BEP = 27758
Lower BEP = 25842
we will get full profit if it expires b/w 25900 - 27700 range