My previous post was all about option segment and to go by levels. I am giving below my daily approach to options trade as per level in index and buy level of selected strike prices.
One must watch the index and its support and resistance which has a direct connection to the strike prices and also likely buy prices based on index levels.
The support and resistance for the day is as below:
Based on the above support and resistances, I arrive at buy prices of nearest CE and PE with targets, which is handy for retailers to wait for price and targets.
One must watch the index and its support and resistance which has a direct connection to the strike prices and also likely buy prices based on index levels.
The support and resistance for the day is as below:
| RESISTANCE / SUPPORT | |||
| NIFTY | BK NIFTY | ||
| R4 | 12,008 | 31,275 | |
| R3 | 11,974 | 31,165 | |
| R2 | 11,961 | 31,122 | |
| R1 | 11,902 | 30,934 | |
| S3 | 11,879 | 30,861 | |
| S2 | 11,845 | 30,752 | |
| S1 | 30,703 | ||
CLOSE |
11,896 | 31,008 | |
I select 8-10 strike prices of current week as well as next week for retailers to pick the one depending on their risk appetite. Today's prices are given below for your observation.
The point I want to drive is nothing comes by luck. You must do proper home work if you want to be a winner.
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