Nifty 50 – Bank Nifty Strategy – Option Chain Analysis – 11th February – 15th February 2019
In this Nifty chart & Bank Nifty chart Option chain analysis video I have discussed about FnO Open Interest in Indian Stock Markets along with price action of Nifty 50 and Bank Nifty along with importance of keeping Trading process simple.
In last week’s video, I had discussed that Nifty and Bank Nifty had formed a clear Range structure. I had explained this on Nifty chart and Bank Nifty chart. This week, Nifty 50 did attempt to break out of the range. Bank Nifty however still remained in range. No signs of break out yet in Bank Nifty despite positive move from RBI in form of rate cut. Breadth for the market still remains very weak and only select stocks are driving Nifty 50, Bank Nifty, Nifty Energy, Nifty Private banks higher.
I have then covered fno Open Interest Analysis and Option chain analysis for the week. I have shown how Option chain data clearly indicated positive movement in Nifty and Bank Nifty up to RBI Policy. However, lack of open interest reduction in calls was a point of concern in Nifty. I have also discussed Trading psychology in this video where I have shown why traders need to embrace simplicity and leave complexity behind. I have mentioned precise steps that need to be taken to achieve this. Towards the end, I have discussed Nifty 50 and Bank Nifty key levels for next week.