NIFTY Options Trading by RAJ

[healthraj]

As per the Hourly chart if 7841 SPOT is broken today then the next targets are 7814 and 7780. If 7840 holds then the target is 7900.

 

[healthraj]

An additional corollary to this could be, if chgoi at Max OI is > 10% (uncovered) then that support /resistance is not going to hold

OT, You mean COI value is greater than 10% of OI

 

[Option.Trader]

OT, You mean COI value is greater than 10% of OI

That's right, in most cases you could simply buy a naked option in direction with low risk

 

[miscos]

I have been following this thread for last few days. Thank you, Raj for an amazing thread where only technicals of option are discussed with live hints by you. Going by open interest of 7800P, I feel it may be a buy around for 7900 or upperside. Pardon, I am biased for election result and diwali mood. But the deeper correction is not over and I do not time it, may be after Diwali!

 

[healthraj]

MAX COI changed to 7700-8000. Better to close the shorts appropriately since the Pivot has moved to 7850. NIFTY today might close around 7850. Now trading at 7815

 

[healthraj]

I have been following this thread for last few days. Thank you, Raj for an amazing thread where only technicals of option are discussed with live hints by you. Going by open interest of 7800P, I feel it may be a buy around for 7900 or upperside. Pardon, I am biased for election result and diwali mood. But the deeper correction is not over and I do not time it, may be after Diwali!

This week might be Bearish. So you Can buy on Tomorrow EOD or Monday I think. Since the MAX OI is 7800-8200, you might Buy whenever NIFTY comes near 7800.

 

[healthraj]

You are not looking at the latest COI . The Pivot has moved to 15750 with COI changing to 15000-16500. So at 15800, I think you can SELL. But a keep a stoploss as per your system. So the new target is 15625

So BANKNIFTY today working as per the COI and OI Arithmetic.

Near 15625 from 15800/15750.

In the morning it worked from 15675 to 15850 (Not reaching 15850 though)

 

[healthraj]

MAX COI changed to 7700-8000. Better to close the shorts appropriately since the Pivot has moved to 7850. NIFTY today might close around 7850. Now trading at 7815

MAX COI changed once again to 7700-7900. So 7800 becomes unavoidable target

 

[healthraj]

Those who want to BUY for Diwali (Only positional Trades) with a little bit of Risk can buy ATM/ITM Calls whenever NIFTY goes below 7800. Of course this is based on MAX OI 7800-8200.

 

[Option.Trader]

Those who want to BUY for Diwali (Only positional Trades) with a little bit of Risk can buy ATM/ITM Calls whenever NIFTY goes below 7800. Of course this is based on MAX OI 7800-8200.

Nifty should go towards 7750 with uncovering of 7800 puts, that is where buying may start. Bought some 7700 puts @50 for targets of 7750 tomo