NIFTY Options Trading by RAJ

[healthraj]

NIFTY is a SELL above 7998 SPOT in LTF. In HTF SELL Triggered on Friday.
BANKNIFTY - SELL Triggered on Friday. Support will come at 15171
SBIN - SELL Triggered on Friday. May be it will Test 2479 before going down.

NIFTY and BANKNIFTY has gone FLAT and so there is no Clear Trend in the morning.

NOW NIFTY is kind of forming a double top in LTF and will be a SELL between 7980 and 7990.

The Support should come at 7780. Do not miss to Buy around 7780-7800.

BANKNIFTY might Test 15560 and if does not move beyond, then it will be a SELL for 500 points.

SBIN is SELL between 2475 and 2485 for a Target of 2300. Do not Forget to BUY SBIN around 2300/2280 for Diwali.

So Good opportunity to BUY
NIFTY @ 7800 - Target 8300/50 - 500/550 points.
BANKNIFTY @ 15000 - 17000 - 2000 points.
SBIN @ 2300. - 2800/2900 - 500-600 points.

NIFTY - Made high of 7991 and closed at 7958. In LTF Triggered a BUY. Tomorrow it might test 8010. In HTF trading near the Pivot. So either 8091 or 7857 is possible. In the Daily charts the support is at 7829, which is Yet to be Tested. So my bias is down till 7829.

SBIN - Made high of 2478 and closed at 2455. And in the LTF is DOWN. In the HTF it is trading near the PIVOT. So either 2562 or 2342 is possible as per HTF. In Daily the Support is at 2319, Which is still not Tested. So bias is down till 2319

BANKNIFTY - Opened at high of 15636 and Closed at 15473. Same as NIFTY. In the Daily the Support is at 15071, which is still not tested and so my bias is down till 15071.

 

[healthraj]

NIFTY, BANKNIFTY and SBIN are trading near the Pivot with no clear signals.

Better NOT take any direction now and play just the BO/BD.
NIFTY BO/BD Range as per LTF Minor Trend 7920-7980
BANKNIFTY BO/BD Range as per LTF Minor Trend 15400-15600
SBIN BO/BD Range as per LTF Minor Trend 2420-2480

OR it would be Rather safe to take trades as per the Options Chain MAX OI.
NIFTY Range - 7800-8200
BANKNIFTY Range - 15000-16000
SBIN Range - 2300-2600

 

[healthraj]

NIFTY, BANKNIFTY and SBIN are trading near the Pivot with no clear signals.

Better NOT take any direction now and play just the BO/BD.
NIFTY BO/BD Range as per LTF Minor Trend 7920-7980
BANKNIFTY BO/BD Range as per LTF Minor Trend 15400-15600
SBIN BO/BD Range as per LTF Minor Trend 2420-2480

OR it would be Rather safe to take trades as per the Options Chain MAX OI.
NIFTY Range - 7800-8200
BANKNIFTY Range - 15000-16000
SBIN Range - 2300-2600

Hit 7999 and pulled back quickly. So it does not seem to be BO. It seems rather a SELL

 

[bulbuli]

Hi Raj Sir,

This is a bit off topic question (and a bit too long but I think you are the best person who can answer this

I am a price action trader (Newbie) but I had just been demo trading in Forex market till now. Now, I want to start trading in Nifty Derivatives Esp. options while combining it with my PA analysis.

Now the case in point is today's market movement. Today, I was expecting a reaction around 8030 level which did happen eventually but if I were trading Options (Buy PE 8050 if going by PA) then I would have not got expected results because Premium went from 156 to 142 (Current Premium).

So I am a little baffled because now I have no clue as to how can I combine my analysis and trade in Options profitably

Can you please suggest me something ?

P.S: Sorry for the long post

 

[healthraj]

Hi Raj Sir,

This is a bit off topic question (and a bit too long but I think you are the best person who can answer this

I am a price action trader (Newbie) but I had just been demo trading in Forex market till now. Now, I want to start trading in Nifty Derivatives Esp. options while combining it with my PA analysis.

Now the case in point is today's market movement. Today, I was expecting a reaction around 8030 level which did happen eventually but if I were trading Options (Buy PE 8050 if going by PA) then I would have not got expected results because Premium went from 156 to 142 (Current Premium).

So I am a little baffled because now I have no clue as to how can I combine my analysis and trade in Options profitably

Can you please suggest me something ?

P.S: Sorry for the long post

The Simple answer is that the price went down since the VOLT went down today.

But the 8050 PE Low price was 94.35, which is may be the corresponding price when NIFTY Made high of 8030.9

When NIFTY has closed 66 points from the Highs, 8050 PE option has given only 52 points from the Lows. This is because of the Drop in Volatility.

Naked Options trading is the most difficult. If you are new to Options, you can start with some Strategy like Selling pairs, which I have described.

 

[bulbuli]

Thanks a lot Sir. That was very helpful

I'll surely start with safer strategies and would go through your thread to understand Options better..

 

[healthraj]

NIFTY, BANKNIFTY and SBIN are trading near the Pivot with no clear signals.

Better NOT take any direction now and play just the BO/BD.
NIFTY BO/BD Range as per LTF Minor Trend 7920-7980
BANKNIFTY BO/BD Range as per LTF Minor Trend 15400-15600
SBIN BO/BD Range as per LTF Minor Trend 2420-2480

OR it would be Rather safe to take trades as per the Options Chain MAX OI.
NIFTY Range - 7800-8200
BANKNIFTY Range - 15000-16000
SBIN Range - 2300-2600

Except for NIFTY which made high of 8030, BANKNIFTY and SBIN more or less Traded in the BO/BD Range as given above.

Actual Range of
NIFTY - 7923-8030
BANKNIFTY - 15336-15596
SBIN-2420-2476

 

[healthraj]

NIFTY, BANKNIFTY and SBIN are trading near the Pivot with no clear signals.

Better NOT take any direction now and play just the BO/BD.
NIFTY BO/BD Range as per LTF Minor Trend 7920-7980
BANKNIFTY BO/BD Range as per LTF Minor Trend 15400-15600
SBIN BO/BD Range as per LTF Minor Trend 2420-2480

OR it would be Rather safe to take trades as per the Options Chain MAX OI.
NIFTY Range - 7800-8200
BANKNIFTY Range - 15000-16000
SBIN Range - 2300-2600

NIFTY Charts at the end of the day

LTF

HTF

 

[healthraj]

NIFTY, BANKNIFTY and SBIN are trading near the Pivot with no clear signals.

Better NOT take any direction now and play just the BO/BD.
NIFTY BO/BD Range as per LTF Minor Trend 7920-7980
BANKNIFTY BO/BD Range as per LTF Minor Trend 15400-15600
SBIN BO/BD Range as per LTF Minor Trend 2420-2480

OR it would be Rather safe to take trades as per the Options Chain MAX OI.
NIFTY Range - 7800-8200
BANKNIFTY Range - 15000-16000
SBIN Range - 2300-2600

BANKNIFTY Charts at EOD

LTF

HTF

 

[healthraj]

NIFTY, BANKNIFTY and SBIN are trading near the Pivot with no clear signals.

Better NOT take any direction now and play just the BO/BD.
NIFTY BO/BD Range as per LTF Minor Trend 7920-7980
BANKNIFTY BO/BD Range as per LTF Minor Trend 15400-15600
SBIN BO/BD Range as per LTF Minor Trend 2420-2480

OR it would be Rather safe to take trades as per the Options Chain MAX OI.
NIFTY Range - 7800-8200
BANKNIFTY Range - 15000-16000
SBIN Range - 2300-2600

SBIN Charts at EOD

SBIN MAX OI changed to 2400-2600 today from 2300-2600. So may be 2400 is the Low. But the HTF chart is indicating a low 2324. So the HTF Pivot at 2409 need to be watched

LTF

HTF