Derivatives : Future And Options Trading Bank Nifty Week Analysis (8-12 jan 2024)

Futures and Options trading in bank nifty weekly analysis

Banknifyt closed 47724.65 level Last week (8-12 jan2024) at friday by breking the top level of 47750 in the last session of friday market but this is the small selling of the day and that is intraday if you see the chart then banknifty again come back to the 47700 level by gaining the 50-70 points in market closing sessions which is good sign for traders because it is sustained and closed above 47700 levels.

Support Levels

The overall support level of banknifty for before week was 47500 and banknifty failed to sustain and come down to the level of 47000 but it has gained above it by keeping the next support of 47250 and then followed by the 47500 which was broken in the week but successfully acheived and sustained above it and now trading above the 47700.

There is resistance level of banknifty of 48000 and this banknifty can break if it sustain above 47500 followed by 47700 by creating support above this level then it will break 48000 level and sustain above it next week.

Option Trading Strategy

Bank nifty future and options trader can take trade in the monday morning 15 jan 2024 by observing it to sustain above 47700 levels then you can by Call option (from 48000 to 48400)as per your trading capital because then it will hit 47900 levels and break 48000 level and then it will try to sustain there for new level and you can book good profit till then and if it fails there then you can take Put call to book profit in down side because then it can come back to level of 47500 which was last week but strong support level for bank nifty and again try to create support here with small medium price fluctuations.