Weekly analysis with Options strategies for 29th APR Exp

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Successful trading is not rocket science. Yes, we all know that but still, we can see most of the retail traders are losing money. What’s the reason? Have you any idea? In my weekly analysis with options strategies post, I’m trying to give the answer to a common problem we all are facing in our initial days. Read the post till the end to find the answer to why most of the people are losing?

In our starting days, we all face some similar problems. These problems not only gave us loss but destroy our confidence too. Some problems can be execution-related or some of these problems can be psychology-related.

Execution-related means: We don’t have a proper trading plan. Trading plan like, Why to entre? When to enter or exit? and How to execute this plan?

If you know the answers to these 3 words “Why, when, and how” Your half of the problems will solve. So before jump into trading with real money work on a proper trading plan. Here are some of the tips which can help to build a trading plan for yourself.

  • Don’t be fascinated by other’s profit. Ask yourself which segment suits you. See you can trade in any segment here and every segment has its own limitations and risk profile.
    • See everyone has their unique risk profile. Risk profile means: how much you can effort to lose in a single trade. And you can see every segment has its own risk profile. So select a segment that suits you.
    • If you trade with your risk profile, It will help to take some better decisions when things go wrong. And remember this, you will get the wrong trades too. There is no way to keep yourself away from these wrong trades.
    • It’s better to keep yourself ready to deal with every problem you can face.

Come out from your comfort zone and look out for all the possible situations you can face when you will be in your trade. It will help to keep your back plan ready.

Psychology-related means: We as a retail trader, trading with emotional decisions. Emotional decisions like fear and greed. We are making decisions based on gut feelings. We think that now this stock will go UP that’s why we are taking a long trade. But why it will go UP? We don’t know.

Want to know a secret? This whole market is standing on fear and greed. When you take any trade based on fear or greed, the next moment market will win. You have to learn how to overcome these emotional trading decisions.

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[su_highlight]So Don’t do that. Trade with logic not with gut feelings. We have to be very clear about why we are taking this trade. Make a trading plan and then follow it with proper discipline and patience.[/su_highlight]

My dear friends, There is no shortcut to success. If you want to be a successful trader, You have to work on both things.

In short: Make a trading plan based on your risk profile and follow it with proper discipline and patience.

I too have created a trading plan for myself and following that plan only. My trading plan is simple. I’m trading with option hedging strategies. These strategies are helping to keep my risk on the limited side.

Now I’m not bothered about where the market will go tomorrow. Less Noise and more focus. If you struggling to make your trading plan and wanted me as your Mentor, you can join our mentorship program, where I will teach you how to deploy these strategies and what should be the adjustment if the script is moving against your prediction.

Nifty weekly analysis with options strategies

Nifty Chart today

In my last Nifty & Bank Nifty weekly expiry strategy post, I have shared that 14350 is acting as a strong support level. On 25th March 2021 too Nifty was trying to break that level but recovered later and we saw a sharp reversal till 14850.

Same thing we saw last week & this week too. After a gap-up opening on 20th April 2021, we saw a sharp decline till 14207.30 but on the next trading day again Nifty gave a reversal and closed above 14350. This indicates that 14350 is still acting as an immediate support level.

Now, you can see on the chart that 14350 – 14250 is acting as an immediate support zone. A breakout will lead to the next psychological level of 14000. I suggest we should initiate a short trade only below 14250 for the next target of 14000. A breakdown from 14000 will lead to the next crucial support at 13700.

On the Upside, the First resistance placed at 14550 and the second resistance is at 14850. A breakout from 15500 will generate a buy signal that will lead to further upside levels.

For weekly proceptive, we can use a range of 14200 – 14700 for our range-bound strategies. Always follow your risk management rules.

Nifty weekly Options Chain analysis

Nifty open interest analysis

Based on option chain data, the highest Open interest stands at 15000 CE & 14000 PE, followed by 14500 CE & 14200 PE. PCR of all strikes is 1.11, which indicates a neutral. PCR at 14200 stands at 7.19, which is acting as an immediate support level.

The Put-call ratio at 14800 stands at 0.26, which is acting as a resistance level. Equally, important indicator Option Pain is at 14500, indicating weekly expiry at 14500. A shift in option pain will provide further levels of expiry. So keep tracking max pain.

Significant open interest buildup on both the side, which indicates that the market is facing support from both the side. 

Keep tracking open interest to analyze market participant’s behavior. If you don’t know how to analyze open interest for weekly option hedging strategies. Just enroll for our Option Strategies – A Mentorship Program.

Nifty weekly Options Strategy: Iron Condor

Nifty best weekly options stratgies

Possible adjustments:

Initially, you can keep a stop loss of 14800 & 14000 for this strategy. Means square off if you find nifty is giving a breakout or breakdown. Or you can do this adjustment too.

If you find that Nifty is giving a breakdown and sustaining below 14000, then square off call spread and bring it down to 500 points lower levels.

The same thing you can do with put spread means if you got a breakout from 14800. You can shift your put spread to 500 points up.

If you want to learn these strategies and their adjustments in more practical ways with live mentorship, You can enroll in our Option Strategies – A Mentorship Program(33% OFF).

BankNifty Weekly Analysis with options strategy

BankNifty chart today

After a sharp decline from the higher levels, we saw that BankNifty is trying to take support from it’s strong support zone i.e. 30800 – 29800. A sustainable recovery from the said range is very important for the medium to long term trend of Banknifty.

Right now, the short-term trend is down but giving a good opportunity for those who missed the previous rally. You can take a long trade with a stop loss below 29500. A breakdown from 29500 will change its medium-term trend into bearish.

Here one thing you should keep in mind that the market is highly volatile due to COVID-19 situations. So do not hold any naked trade here. I always prefer to hedge my overnight long position with PUTs. So do not keep any naked position in your account at least for the next few weeks.

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Based on the charts, the Weekly range in banknifty is 33500 – 30500. I suggest trade with a proper hedge and keep your positions with limited risk on both sides.

Bank Nifty Weekly options chain analysis

Bank nifty weekly open interest analysis

Based on option chain data, the highest Open interest stands at 32000 CE & 31000 PE, followed by 34000 CE & 30000 PE. PCR of all strikes is 1.16, which indicates a neutral market. PCR at 31000 stands at 5.06, which is acting as an immediate support level.

The Put-call ratio at 33000 stands at 0.18, which is acting as a resistance level. Equally, important indicator Option Pain is at 32000, indicating weekly expiry at 32000. A shift in option pain will provide further levels.

Remember one thing: When IV is high, data can change anytime so keep following more closely.

If you don’t know how to analyze open interest. Just enroll for our Option Strategies – A Mentorship Program.

Bank Nifty best Weekly Options Strategy: Iron Condor

Bank nifty best weekly option strategy

Possible adjustments:

If you find that BankNifty gives a breakdown and sustaining below 30800, then Shift your Call spread to 1000 points down.

The same thing you can do with put spread means if you got a breakout from 33200. You can shift your put spread to 1000 points up.

If you want to learn these Weekly expiry option strategies and their adjustments in more practical ways with live mentorship, You can enrol in our Option Strategies – A Mentorship Program(33% OFF).

Much Check this also– Performance of the Option strategies, Nifty and Bank nifty support and resistance for tomorrow, Nifty Option Strategy for Budget SessionA low-risk options strategy in LICHSGFINAn iron condor options strategy in ICICIBANKReverse Jade Lizard options strategy in UPLA high probability options strategy in YESBANK.

Post your comments in the comment box if you have a query related to the Nifty and Bank Nifty Weekly analysis with options strategies. You can ask any question related to option trading in the comment box.

If you need More real-time assistance on Nifty and Bank nifty weekly analysis with options strategies Can take our premium subscription or open a trading account with us and you will get real-time assistance every month on these weekly options strategies. You can contact us on WhatsApp

*( Please avoid any question like which Call or Put we should buy in the coming week).


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On September 01, 2019, We have launched a new mentorship program for Option strategies, in which we’ll discuss how can we deploy these strategies? What rules we should follow before taking a trade? And what should be our adjustments if the script is moving against your direction?

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DISCLAIMER: – we are not a SEBI research analyst. Views posted in this weekly analysis with Options strategies are only for educational purposes. There is no liability whatsoever for any loss arising from the use of this product or its contents. This product is not a recommendation to buy or sell, but rather a guideline for interpreting specified analysis methods.  This information should only be used by investors and traders who are aware of the risk inherent in securities trading.

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Sachin Sival is the founder and CEO of Replete Equities, an options trading company that specializes in delta hedging. A self-taught trader, Sachin has a passion for volatility trading and stock trading. Sachin loves to hone his skills by reading up on new strategies and techniques as well as taking part in industry events. In addition to being a successful entrepreneur, Sachin also takes pleasure in photography - as a hobby.

2 thoughts on “Weekly analysis with Options strategies for 29th APR Exp”

  1. We need to pubuy call or put at lowest but these days we find call and put are above 350 please advise and when to buy if we buy on Friday fear is on Mon day premium may come down due to time decay

    Reply
    • You will lose most of the time if you buy a weekly option due to high theta decay. Better find an another solution.

      Reply

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