Index Option Trading : Technical Analysis for Week 16-20 June

By Abhishek katkar
Derivative FNO Trading :Index Option Trading : Technical analysis for week 16-20 june

Nifty, Niftybank technical analysis for option trading

This is a technical analysis short report for index option trading for week . This is for index option traders. in this post we see the performance of indexes for week from their support levels, resistance levels, average ranges,low and high ranges of nifty and bank nifty for incoming days, new levels for option trading and opportunities for trading to make money from stock market.

Nifty50 Technical Analysis

Today Nifty has closed in green by gaining 349 points in single day and this is upward movement of nifty based on last two days if you see the charts of last two days and further for whole week from 13 jun nifty has dropped to a level of 24470 and from then it has started raising again with slow upward movements and creating support.

It has taken first support at 24600 and sustained above 24700 level. so there on 13 june nifty gained and hit the high levels from its last week low which is good. it has recovered and came back to upside movement. from then it has again gained and reached a new high level of 24940 and this is high from its week low and this has happened because nifty created a very good support in two days and the buying and selling cycles are reliable so it has reached to this level but then it again dropped to level of 24770 but actually this is not downside move its profit booking for 13 jun positions. see the chart carefully it came down slowely and fluctuated in small up and down cycle in the range of 24700 to 24850 for three days and again today it has jumped by more than 300 points and hit the level of 25100 and above. this is because it has created a strong support there in 3 days movemets that was slow and cycle of buying selling are in range which created strengh in it and this has given power to nifty for this move. so here call buyers has earned good profit in todday after expiry.

nifty has sustained above the 25100 levels by breaking the previous resistance 24900-24940 which is good for further move here nifty has taken support of 25000 and 25100 levels. so it will try to sutain here may be come down little because of selling for profit booking then it will come to 25000 levels and if off market buying happens then it will open gap up and can hit new levels 25200 and furher 25500 but for this need to sutain above 25250 it will take further week but in middle it can come down becasue of selling. don't consider minor fluctuations of selling cycles. here this option of nifty performed well based on past movements of nifty 25200 which has opened at 45 and hit high of 128 and closed at 105. this trade needs to be taken on last day based on analysis.

NIftyBank Technical Analysis

Nifty bank has taken support at 55400 and gained from their and further it has reached high level of 56050 on 17 june and come down to level of 55600 -55650 and their it has fluatuated with small ups and downs movemets but carriyg the same support of 55600 from their it has taken big move of more than 700 points and this is very good for trading in this you can book very good profit with options having low buying price .

here need to see what will happen becasue this today's move is based on past down side movement and then also is has created support here at 56030 if it sustain here then it can up with this support and can go to level of 56500 but it can come down litlte to correct becasue of selling but this create strenght in this process and this is good for further levels of niftybank but for this you need to see the performance of monday and take action. you can focus on the call option with open interest like 56300, 56600,57000,57500,58000 for 50 to 100 points moments.

conclusion : If you trade like this with proper technical analysis then you can book/earn very good profit in option trading and can make good money in stock market.

See the whole day chart carefully and then decide

Dont make rush to take trading postion becuase you can buy it at low price and sell it at high price

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