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NIFTY CHART ANALYSIS FOR OPTIONS TRADINGNIFTY is currently in a tight spot between 11250 and 11000 . The increasing number of corona cases seems to have already been factored in and hence not causing any weakness to the index. The huge rally from 10750 to 11200 in almost a weeks time has dried out now and nifty is now in a consolidation phase. From here onwards we can expect nifty to either touch 11500 in the coming week if the quarterly results of nifty heavyweights such as reliance and HDFC are good, otherwise nifty can also retest its support at 10880 if no good news lifts up nifty . At the present moment we can sell nifty 11600 CE and 10800 PE for august first week expiry or the present expiry though premiums are vey low now to be on the safe side. Given a choice it is better to stick to 11600 or 11500 CE sell as this week and the coming week a lot of quarterly results are in line and the markets can be very volatile. Also Dow jones and NASDAQ has been seen correcting for the past two days. For more interesting content head onto my youtube channel bania trader which I've created specially for those people who don't have time for intraday trading and would rather do swing trading.
NSE:NIFTY
by ayushgg96
Data indicates weakness embedding in the markets.Data indicates weakness embedding in the markets. Markets did see support coming in at 9726 levels. This would be an immediate support for the market. However, if retested, it may be vulnerable. Similarly, BankNifty saw support coming in at 19740, this would be an immediate support as well. If market stabilizes tomorrow, BankNifty may outperform Nifty. Lot depends on how US closes today. Will have to pick up morning cues. Though as of now a close range of 19500 and 20500 is playing on BankNifty and a close range of 9700 to 9900 seems to be active on Nifty (However, remember the wider range of 9500 to 10000 and 19000 to 21000)
NSE:NIFTY
by Equity_Compound_2
Expiry Strategy Nov: Sell 115 Put @ 0.75. Lot Size: 5334Trend continued to be in bearish territory on back of EMA (20 EMA below 50 EMA). Recent correction from the resistance of 140 level where roof of the downward trend line hovers. On contrary, as MACD above zero expect the price to find support around 120 levels. In the recent past, the price comfortably found support around the same level twice. Expect a bounce back in the coming days so Nov expiry would above 120 levels. As I always believe in option selling rather buying based upon the trend, prefers Sell 115 Put around 0.75 level.
NSE:GAILLong
by vigneshwaraj