Options Big Shot-Indian Market View, VOL-011

Learning Quote: Short Strangle (Sell Strangle): The Short Strangle is a neutral strategy wherein a slightly OTM Call and a slightly OTM Put Options are sold simultaneously of the same underlying asset and expiry date. The strategy can be used when the trader expects that the underlying stock will experience very little volatility in the near term. It is a limited profit and unlimited risk strategy. The maximum profit earn is the net premium received. The maximum loss is achieved when the underlying moves either significantly upwards or downwards at expiration.

Nifty Futures : 15161.85 (-0.15%)

Bank Nifty Futures: 36159.45 (+0.98%)

India Vix : 22.04 (+4.35%)

Put Call Ratio/Maximum Pain

NIFTY 1.38/14700

BANK NIFTY 1.09/34600

Nifty- Option Chain

Maximum CE open interest of 23.26 lakhs contracts was seen at 15,500 strikes, which will act as a crucial resistance, while maximum PE open interest of 18.50 lakh contracts was seen at 15000 strikes. 

Nifty has key support levels for the day are 15100 followed by 15050. If the index moves up, the key resistance levels to watch out for the level of 15300 and 15400.

Bank Nifty- Option Chain

Maximum CE open interest of 7.47 lakhs contracts was seen at 37,000 strikes which will act as a crucial resistance, while maximum PE open interest of 7.30 lakh contracts was seen at 35,500 strikes. 

Bank Nifty has key support levels for the Bank Nifty are 35800 followed by 36000. If the index moves up, the key resistance levels to watch out for are 36700 and 37000.

Top Pick

Swing Trade: Buy Bank Nifty 36000 CE around 300. CMP 518.55. Stop loss below 150. Target 450 and 600.

Buy Godrej CP 750 PE above 21. Stop loss 15. Target 30.