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#BANKNIFTY 4 AUG By Professional Option Trader🤑💲💲💸💰#We Make Only Profit. #HDFCBANK #BANKNIFTY #NIFTY50 #NIFTY #SENSEX #TATA Intraday trading involves buying and selling options within the same trading day, rather than holding them for an extended period. By adopting this approach, traders can make profits by capitalizing on the short-term price movements of the underlying asset.22-Apr-2023 Is option buying good for intraday? Trading intraday options can be a great way to benefit from short-term market fluctuations and make quick money. Before you dive headfirst into the fast-paced world of intraday options, it's important to have a sound strategy with an understanding of risks and rewards. The long black candlestick is 'the mother' and the small candlestick is 'the baby'. The smaller the second candlestick, the stronger is the reversal signal. The shadows of the second candlestick do not have to be contained within the first candle's body. Which candle is best for option trading? Here are the top 5 candlestick patterns that traders must know: Doji. The Doji pattern is formed when the Open Price and Close Prices are the same or almost the same, and there is Low and High Price, so the candle has nearly nobody with a lower and upper wick. ... Hanging Man. ... Hammer. ... Morning Star and Evening Star. Technical analysis and options trading can go hand in hand. Many of the best practices for options trading come directly from technical analysis concepts. Technical analysis focuses on price. Fundamental analysis does not solely focus on price. RBI Forex Reserve Grow is this Good or Bad ? 1st 140 Billion loss hua hai or ab 20 Billion Grow hua hai to hai to abi bhi loss mai Gover..t abi losss mai hai
NSE:BANKNIFTY
by UnknownUnicorn59699627
14
#Nifty BIg player Long Move By Professional🤑💰💸🙏#We Make Only Profit. #HDFCBANK #BANKNIFTY #NIFTY50 #NIFTY #SENSEX #TATA Technical analysis and options trading can go hand in hand. Many of the best practices for options trading come directly from technical analysis concepts. Technical analysis focuses on price. Fundamental analysis does not solely focus on price. RBI Forex Reserve Grow is this Good or Bad ? 1st 140 Billion loss hua hai or ab 20 Billion Grow hua hai to hai to abi bhi loss mai Gover..t abi losss mai hai
NSE:NIFTY
by UnknownUnicorn59699627
4
#BANKNIFTY Today Market 100% Perfect By Professional 🤑💰💸💸💲#We Make Only Profit. #HDFCBANK #BANKNIFTY #NIFTY50 #NIFTY #SENSEX #TATA Technical analysis and options trading can go hand in hand. Many of the best practices for options trading come directly from technical analysis concepts. Technical analysis focuses on price. Fundamental analysis does not solely focus on price. RBI Forex Reserve Grow is this Good or Bad ? 1st 140 Billion loss hua hai or ab 20 Billion Grow hua hai to hai to abi bhi loss mai Gover..t abi losss mai hai
NSE:BANKNIFTY
by UnknownUnicorn59699627
8
43485 Make or break level in Banknifty Here I provide a detailed analysis of Banknifty for Monday, May 8, 2023. In this video, I delve into the key levels and potential scenarios that traders and investors should watch out for. During my analysis, I discovered a crucial make or break level at 42500. This level holds significant importance as it will determine the next move for Banknifty. Additionally, I observed substantial call writings around the 43000 level, which may act as a strong resistance, potentially preventing the price from surpassing it. Consequently, I advise viewers to exercise caution when considering buying Call Options (CE) at this stage. On the other hand, I also highlight the possibility of a bearish scenario. If Banknifty breaks yesterday's day low, it could open the door for further downward movement. This provides an opportunity for traders to consider Put Options (PE) to capitalize on potential downside momentum. Join me in this insightful video as I analyze the current market conditions, key levels, and potential trading strategies. Stay informed, stay alert, and make informed decisions based on the analysis provided. Remember, the market is dynamic, and risk management should always be a priority. Subscribe to my channel to stay updated with the latest market analysis and trading insights. Let's navigate the exciting world of finance together!
NSE:BANKNIFTY
by Doinel33
PostMortem on BankNifty Today & Analysis of 05 MAY 2023Finally some volatility to keep the bears alive. This entire week the technical analysis was saying keep buying. See how a fundamental change can alter the sentiment. "MSCI tweaks spook HDFC twins, merged entity may see $150-200 million outflows" The MSCI news hit just before the start of the day and NSE:HDFCBANK and HDFC were down 5% in pre-open. The biggest loser was NSE:CNXFINANCE index compared to NSE:BANKNIFTY & NSE:NIFTY during the preopen session. Even after such bad news the other banks did hold banknifty up till 12.55 after which the banks had a near free fall. The open was gap down, but it recovered very neatly till 10.20, there was volatility visible in CE options premium, but PE premiums were still under control. Obviously the near ATMs had huge spikes as the gapdown itself was an uncertainty in itself. The pattern formed after 10.20 was a perfect 2 legged down-fall. The 2nd leg had a depth of 1.6% ~ 695pts. Banknifty was holding its ground near the 43253 support at the start as well as from 11.05 to 12.55. In this period of 2 hours the options premiums started decaying.  Right after the 1pm move there was a broad-based selling on other banks as well. And what it did was to ensure banknifty's fall was matching the Finnifty's percentage drop. Its true that both of them fell exactly 2.34% today. However the HDFC which fell 5.58% is just present in Finnifty. Somehow to the naked eye I am not convinced how banknifty had an equivalent fall as finnifty. The only positive contributor to finnifty was SBILIFE which has a small weightage. Seems like IndusInd & Federal bank which has weightages of 5.4% and 1% would have made the difference. I am still not convinced :( --- 15mts TF is showing banknifty has broken 2 supports 43253, 43012 today and was stopped at 42576 support. This is the first time in many sessions that we had a decent retracement. Since its fundamental/news driven, the technical analysis wont really work here.  --- 1hr shows the top formation quite clearly. The nearest support of 42576 if broken will open up a free-fall gap of 952pts till the next decent support at 41624. If that happens we can start taking bearish trades. --- Nifty50 chart pattern is not bearish even after the blip today. The nearest support is at 17976 and the next support is 3% lower at 17429. Interestingly this 3% gap between 2 SR zone is similar to banknifty as well showing a vulnerability. If the indices can hold its ground very well we will not have a snowballing effect.
NSE:BANKNIFTY
by viswaram
Nifty: Follow up on 1st week outlook viewNifty CMP 14102 We had given a view on 1st Jan. This is in continuation of that view... Nifty 13800 Put short Update Suggested sell between 60-80 CMP 16 The position is active and is in profit. Looking at the Options trade Data for January 01, 2021, - Retail participants are looking more optimistic and - FIIs and Proprietary traders are going preservative (message in private to know more) One may Consider adding a sell Call position Strike Price : 14200 Call Option CMP 46 The strategy is best suited for a range bound movement. Disclaimer: - The view expressed here is my personal view - Past performance is not a guarantee for future predictions - Use this for educational purpose - Any decision you take, you need to take responsibility for the same - It's your hard earned money. Treat it wisely - Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance - if trading in F&O, understand that F&O trading involves risk - Do take proper risk management measures - Do your own analysis and consult your financial adviser if need be
NSE:NIFTY
by indiamarketoutlook
4
NIFTY TRADE SETUP FOR TUESDAYsome people ask me how do we know that it's going to break the support or resisitance . frankly told you no one in this world knows. we all do work on probability. technicals give you a view of the mass psychology. best way is whenever the market approach your resistance or support sell the nearest call and put .and hedge the position to buy call or put . in this way your profit will be less but you will never lose the money. now tomorrow there is a chance market will be trading in a range . options call and put writing is on 11400 - 11200 . try to make different set up for the different market. you should have minimum two setups. 1 for a trending market 2. for range-bound market you can discuss with me any time. please Like and share. Thanks
NSE:NIFTY
by ASHWINIKUMAR2101
1
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
NIFTY Topped out or Momentum Break?NIFTY: Daily price action has created a resistance on the chart. Now 12015 (spot) levels will be acting as resistance. The dominant trend is up, the prices are trending above the kumo indicating strength. Momentum has slowed a bit, however it is expected to pick up in the coming sessions if 11820 holds on closing basis. Below 11820 Nifty may drift down 11560 levels. Our “ProRSI moblile trading application has been launched on Play Store and IOS, get high probability trading ideas in equities, futures and options. Download Now.
NSE:NIFTY
by BharatJhunjhunwala
NIFTY BANK TomorrowHey Everyone! A small market update about what has been going on lately and what may happen later. Ever since NIFTY BANK broke its two month long trend line upwards on 15th of June(Friday), the index has been seeing red till 20th of June(Wednesday). Ever since that trend reversal, a bullish parallel channel has formed. It is shown with the blue dotted lines in the chart. A channel can be used as an entry pattern for the continuation of an established trend, as part of a trend following strategy. Things to keep in mind for tomorrow: 1) If market opens close to the base of the green arrow, then we can expect a continuation of the upward channel. 2) If market opens close to the base of the red arrow then we may expect a strong correction downwards(1-2 days) This is my idea about the current market movement. Happy Options Trading ! :)
NSE:BANKNIFTY
by deepayann
Election Result Day Strategy 2024Election Result Day in India is a significant event in the financial markets, as the outcomes of elections can have substantial impacts on market sentiment and stock prices. Here are some key points to consider for trading on Election Result Day in India: ⭐️Market Volatility⭐️ Election results often lead to increased market volatility. Traders should be prepared for rapid price movements and possibly higher than usual trading volumes. ⭐️Sectoral Impact⭐️ Different sectors may react differently depending on the election outcome. For example, sectors like banking, infrastructure, and energy might see significant movements based on policy expectations of the winning party. ⭐️Rupee and Bond Market⭐️ The Indian Rupee and bond markets can also be affected. A favorable election result might strengthen the rupee and positively impact bond prices, while an unfavorable result might have the opposite effect. ⭐️Global Market Sentiment⭐️ Keep an eye on global markets as well, as international investors might react to the Indian election results, impacting capital inflows and outflows. ⭐️Pre-Election Trends⭐️ Leading up to Election Result Day, market trends might provide some insights. However, these trends can reverse quickly once results are announced. ⭐️Historical Data⭐️ Reviewing historical data from previous election result days can provide some context on what to expect. However, past performance is not always indicative of future results. ⭐️Risk Management⭐️ Given the high volatility, effective risk management strategies are crucial. This might include setting stop-loss orders, diversifying portfolios, and being prepared to manage margin requirements. ⭐️News and Updates⭐️ Staying updated with real-time news is essential. Major news networks, financial news websites, and even social media can provide timely updates on the election results and market reactions. Strategy Suggestions ⭐️⭐️Scalping⭐️⭐️ This involves making quick trades to take advantage of small price movements. Given the volatility, scalping can be profitable but requires quick decision-making and execution. ⭐️⭐️Swing Trading⭐️⭐️ If you prefer a slightly longer-term approach, you might look for trends that develop over a few days as the market digests the election results. ⭐️⭐️Options Trading⭐️⭐️ Using options can help manage risk. Strategies like straddles or strangles might be useful in capturing volatility while limiting downside risk. Current Market Sentiment Ahead of 2024 Elections The current election cycle, from April 19 to June 1, 2024, with results due on June 4, 2024, has already seen significant market turbulence. The India VIX index’s recent spike highlights investor anxiety ahead of the election results. The stock market’s recent performance—marked by consistent losses over five consecutive sessions—underscores the nervousness among investors. Factors Influencing Market Volatility Several key factors are influencing the current market scenario: ⭐️Election Uncertainty⭐️ The lack of clarity on the potential election outcome creates a cautious environment for investors. ⭐️Rising US Treasury Yields⭐️ Higher yields indicate an expectation of tighter monetary policy, which can impact global capital flows and investor sentiment. ⭐️Geopolitical Tensions⭐️ Ongoing conflicts in the Middle East add to global uncertainty, affecting market stability. ⭐️US Fed Rate Cut Hopes⭐️ Diminished expectations of a rate cut by the US Federal Reserve can affect market liquidity and investor confidence. ⭐️⭐️ Conclusion ⭐️⭐️ The historical analysis of India’s general elections reveals a consistent pattern of heightened market volatility around election result days. The upcoming 2024 Lok Sabha election results are expected to continue this trend, influenced by both domestic political uncertainty and global economic factors. 🚫 Disclaimer 🚫 All information shared here is for educational purposes only, Please consult your financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you make. No Buy Sell Recommended 🚫 Request your support and engagement by like, comment & follow to provide encouragement
NSE:BANKNIFTY
by globuscapitas
Bank Nifty Analysis post expiry!If you look at 30 min chart of Bank nifty for today session it was clear from start of the day that buyers are going take the session look at first 30 min candle a pure "bullish wick reversal pattern" it confirmed that options buyers will take over the day!! Already discussed on 31st Jan analysis keep eye on opening for confirmation of trade. "Check" 45400 ce was trading at 200 at 10 am at 10.15 am it closed at 556 a net 323 points candle it makes your day! lets look for tomorrow might be same action as today as bank nifty was trading in range in later sessions. But also failed to break resistance twice May take jump from last support at 45600. Still bullish side are bit stronger. Gap down opening can change the view from bullish to bearish. Resis - 46200,46550 Supp - 45670,45400
NSE:BANKNIFTY
by Price_actiontaker14
8th Nov ’23 - BankNifty options premium traded at near 0 valuesBankNifty Weekly Expiry Analysis Between the last expiry and today, BankNifty gained an impressive 909pts ~ 2.13%. It broke through 3 resistance lines to give some hope to the bulls. If we talk about the expiry day today, the OTM premiums were horrible today. Due to the collapse of implied volatility - the market participants were not anticipating any movements. Today is one rare day when I decided not to sell any PUT options. I felt its better not to sell than sell cheap. CALL options on the other hand had better premiums after the opening hour. BankNifty Today Analysis We almost hit the 43800 levels in the opening candle, but there was some difference in the price action if we compare it with Nifty. Although both Nifty and BankNifty fell till 11.15, Nifty managed to climb back whereas BankNifty lost the momentum. The tiredness of the bulls was more prominent in BN. I usually take BankNifty’s price action as a leading indicator during trend reversals. Seems like I need to draw a new support/resistance line at 43566, because we stopped and reversed twice at that zone. I never had that level marked in my chart before. I have highlighted the 4 recent instances in blue color. Looking at the hourly chart, I have decided to change my stance from bullish to neutral. The only way to change back to bullish is to break the 44063 levels. Whereas to go bearish, BankNifty will have to break at least 4 supports and trade below 43012. So until then, I wish to stay neutral.
NSE:BANKNIFTY
by viswaram
BTCUSDT killed the bear, the market was hotDear friends, After experiencing a brief correction from its all-time high of $35,300, Bitcoin (BTC), the leading cryptocurrency in the market, is showing signs of a new upward trend. At the time of writing, Bitcoin is trading at $34,500, successfully recovering the losses incurred during the recent correction on Tuesday. Over the past 24 hours, Bitcoin has maintained a 1.4% increase. Another encouraging sign for Bitcoin's prospects is the open interest in call options, which recently surpassed $10 billion. To put it into perspective, during the peak of the 2021 price rally, open interest in call options reached $9.9 billion. This significant milestone indicates that market participants are increasingly positioning themselves for Bitcoin's potential price increase. The growing number of call options suggests optimistic sentiment among traders and further raises expectations of price growth. Considering these factors, it would not be surprising if this upward trend reaches $40,020 in the near future. What about you? Do you agree with my viewpoint?
Long
by Samson-FX
2
USDJPY with a significant decreaseHello everyone, Samson here. Let's discuss USDJPY today. Today, the Minister of Finance of Japan reiterated that the exchange rate must remain stable, reflecting fundamental principles and the government's readiness to take necessary actions to counter excessive volatility without excluding any options. This, along with overall weak risk sentiment, could benefit the Japanese Yen (JPY) as a safe haven and help limit the appreciation of the major currency. Looking at the technical picture on a H4 timeframe, this currency pair has broken a significant upside level at 148.96 USD. It is currently trading at 148.75 USD, which represents a notable decline for this pair. This indicates that the next trend for this pair is likely to be bearish as it has not been able to surpass 150.00 USD as anticipated. According to Samson's analysis, this currency pair will undergo a retest of support at 147.58 USD before any new developments occur.
Short
by Samson-FX
BTCUSD 30 July Target 100% Perfect🤑🤑#We Make Only Profit. Bitcoin's price today is US$30,001.65, with a 24-hour trading volume of $10.88 B. BTC is +0.41% in the last 24 hours. It is currently -4.42% from its 7-day all-time high of $31,388.55, and 0.96% from its 7-day all-time low of $29,717.09. BTC has a circulating supply of 19.44 M BTC and a max supply of 21 M BTC. #BTCUSD #XRPUSD #HDFCBANK #BANKNIFTY #NIFTY50 #NIFTY #SENSEX #TATA Technical analysis and options trading can go hand in hand. Many of the best practices for options trading come directly from technical analysis concepts. Technical analysis focuses on price. Fundamental analysis does not solely focus on price.
BITSTAMP:BTCUSD
by UnknownUnicorn59699627
PostMortem on BankNifty Today & Analysis of 07 JUN 2023 Banknifty was looking weaker compared to Nifty50 today, finally the day ended in green with a W pattern on 5mts TF. Although we started today with a gap-up, the index was bleeding. Banknifty fell underwater by 10.40 - meanwhile Nifty50 was surging supported mainly by NiftyIT which came back strong after yesterday's trashing. There was no strong downside momentum for banknifty, but the index was just weaker not having enough in it to rally as well. It was easy to tell that we will not have a big fall today looking at the options premium. Banknifty options had a lower implied volatility than Nifty50 thereby translating into cheaper option prices on BN. After 13.40 there was a huge buying momentum on Nifty50 mainly aided by Reliance, TCS and then the bank stocks also caught-up. Nifty50 went up 0.4% in the last 2 hours today pulling up banknifty above water and finally giving it gains of 0.25%. Nifty on the other hand closed 0.68% --- 15mts TF still shows banknifty in a range bound trade, we might need a range expansion trade day to exit this deadlock. If the momentum of Nifty50 is considered, then banknifty has higher chances to break upwards. --- 1hr TF shows banknifty trying to build up the momentum to go upwards. Still not clear why we had a drop on 31 May, there is no continuation of negative bias/event/triggers that could take banknifty further lower. All eyes will be on the interest rate decision by the RBI Monetary Policy Committee. Almost all the market participants are expecting a continuation of rate-pause (i.e. current interest rate of 6.5% will continue). I personally feel we might see a hike of 25bps to 6.75%. The main reason being the inability by the banks to stop the loan growth. Liquidity is still abundant in the system which will cast a shadow on "Inflation" by not cutting demand. Inflation which has cooled off, will not need that much of a time to rebound. If RBI is not deciding to hike the interest rate, they need to seriously consider bring down the liquidity. Withdrawal of accommodative stance has to be changed to "Withdrawal stance". I still think RBI has to be equally hawkish as the US & Europe central banks.
NSE:BANKNIFTY
by viswaram
PostMortem on BankNifty Today & Analysis of 30 MAY 2023 FinNiftyYesterday's high of 44483.35 broken today, the new ATH is now 44498.6 thanks to the last 2 5mts candles of today. Banknifty is now in some real good form - not planning to retire any time soon. Would have got some inspiration from MSD from the IPL 2023. The opening was not that exciting, we even fell in the first 5mts to hit an intraday low of 44207.5. But again no intention to hit the first support at 44068. From there the price action was flattish.  In the opening minutes, I felt Nifty50 to be more promising of a bull run today vs banknifty looking at the options data and the credit spreads getting written at PE. But Nifty's momentum faded out after 10.15, nevertheless it also ended the day in green but just ~ 250+ points to reclaim the ATH. The run in Indian stock markets has been nothing short of surprising, even with the currency devaluation our markets has continued to outshine for the domestic investors. I am really worried about the foreign investors - are their Indian portfolios still in green? --- 15mts TF shows strength today as the gap up of yesterday's was not broken. The momentum is favoring the bulls. As long as the gap-up level holds the bulls will continue to keep their position alive as it will be in profit. If there is a deeper cut, these bulls should run for cover creating a small fall even lower than the recent swing low. For that to happen we need some news/event trigger because as it stands now - its euphoria. --- 1hr TF also shows strength, same reason - the gap being untested. Also the 5 candles of consistent green today - something you dont expect after a big rise. Might be the news of ATH getting taken out would have hit the media and new participants would have entered the markets (the volume does not say so) --- FinNifty expiry Special CNXFINANCE also hit a new ATH today 19636.9. The rally of 117pts coming after 14.00. Of which 60% of the pts coming after 15.05. Market makers & Big Boys have a new system to rally or break the markets after 14.30 these days causing minimal impact to the options premium. But one exception would be the 19600 CE Finnifty that went up a whopping 2835% between 15.05 to 15.10. Price wise a rise from 0.5 rupees to 14.85 rupees. Finally it settled at 6 rupees. Again a perfect example of how options trading can reward the knowledgeable and the person who acts on that. to see all 6 charts of today visit viswaram. com
NSE:BANKNIFTY
by viswaram
PostMortem on BankNifty Today & Analysis of 02 MAY 2023Signs of tiredness visible in the price action today. To start with, never expected that our indices will close in green today, even though the momentum is slowing, it is pushing up the bulls inch by inch. Nifty50 was having more positive price action vs banknifty today - that may be because there are 2 more resistance zones to go for Nifty50 to reclaim the ATH whereas I do not have another resistance level for banknifty. Also the NiftyIT was providing some additional support today. If NSE:NIFTY has to go up further, the additional points has to come outside of the financial sector. NSE:BANKNIFTY opened gap-up, but the price action formed is continuous as the first candle retested last closing level. From there we had a narrow band sideways market. For 5h 50mts today we had a narrow traded range of 43362 to 43476. The upside was capped as the buying momentum was missing. The downside was protected as the bulls were quite strong. So literally we did not have any place to go today. Only in the last 1 hr we had some pattern forming indicating a profit-booking or an interim top like formation. Just a minor 180pts fall from HOD. Why I say there could a bit more selling to come is mainly because the volume of credit spreads that were getting created on the call side. --- Nifty50 also had a flattish pattern and unlike the banknifty the last 1 hr selling was not visible. It was a perfect day to get into a straddle today as the opening and closing prices are near same. Nifty50 traded in the range 18136 to 18175 today with no pressure to pick a direction. --- 15mts on banknifty is still bullish pattern. And its looks like a rounded top is getting formed. We would need further trades to happen below 43253 to have a change in bias. --- 1hr is still bullish and we would need a close below 42576 to have a change in bias. I do not have a resistance zone above the current levels. However it is quite unlikely that just banknifty moves up without Nifty50 crossing the 2 more resistance lines. --- NSE:CNXFINANCE expiry special. The open was gapup same like bank nifty and the traded range was again pretty narrow. However the selling pressure in 3 candles via 14.45, 15.00 and 15.15 was quite strong. These 3 came at a time when the options premiums were all near zero, so assuming these were un-windings of the positional trades taken for expiry. I am starting to spend more time on finnifty for Tuesdays as its much easier to trade than just banknifty. Atleast the certainty that the options will go to zero is still there. This is more relevant now as the banknifty options premiums are at their lowest levels. Unless the volatility rises the premiums of banknifty will remain subdued.
NSE:BANKNIFTY
by viswaram
PostMortem on BankNifty Today & Analysis of 17 APR 2023NSE:BANKNIFTY really held its cool today! During preopen INFY was showing an open rate of -10%, and everybody would have thought we are going to see a massive sell off today. IT sector in total was in focus today as the INFY even though had not so bad results was quoting at 10% lower circuit. I think I saw it go down to 12.3 or 12.5% - since I do not track the IT index that closely, it did not really bother me. However I was excited to see how bank nifty will react. You might be aware that a sell-off in IT will impact the banks the most. A recession or a job loss in IT would mean a lot of NPAs and loan defaults as IT employees are the main people who take exuberant loans at unbelievable valuations. The opening chaos is very visible in the charts of NSE:HDFCBANK , NSE:ICICIBANK and NSE:AXISBANK . NSE:SBIN had a contradicting pattern and surged ahead. NSE:KOTAKBANK was least impacted- the opening volume was unusual and it had a bright day. At 10.05 bank nifty secured its feet and then started climbing. So this blip stayed only 45mts and you would not believe how the price action from the last session continued today also. The 45mts of downward fall was well negated by what followed. I guess the dip buyers were back and immensely supported for a close +130pts today. It will also meaningful to showcase the Nifty50 chart also, since IT index took a huge beating today, it was visible in Nifty50. There was a recovery post 10.05, but the close was in red unlike the bank nifty. --- The options data also requires special mention today, both banknifty and finnifty options were unaffected by the volatility, the NSE:NIFTY options had a good ride today. At a point I saw VIX hovering around the +10%, seeing the recovery in banknifty, I was immediately convinced the best place to take an option trade was Nifty50 instead of BankNifty. This makes an exciting week ahead. If there is further weakness in IT, it will spill over to the financial sector with a delay. --- 15mts on Banknifty says the uptrend is intact and today's blip has made no special impact. We need a support break of 41624 to get some attention of the bears ! --- 1hr also looking promising for the bulls, the next resistance at 42576. In fact in zerodha's TV chart a day high near this resistance level is visible, I am not sure why its missing in the TV chart directly. And today's price action rejection came at the resistance level only.
NSE:BANKNIFTY
by viswaram
Option strategy for Nifty next week here we will create an IRON CONDOR IT is an options strategy consisting of two puts (one long and one short) and two calls (one long and one short), and four strike prices, all with the same expiration date. The iron condor earns the maximum profit when the underlying asset closes between the middle strike prices at expiration. ideally nifty will stay above 17250-200 and below 17850-17900 thus a condor strategy can be applied for next week with Short selling 17250 PE & 17850 CE and making a 200-point away strike as a hedge for any uncalled event!! this will give credit and the yield would be pasted in the comment one can check sharesvalley & my username for getting in touch for more OPTIONS ARE GREAT TOOL FOR hedging
NSE:NIFTY
by pratik2358