How to trade options today full plan with levels

 

To day’s trading plan and recommendation 

It’s a trading plan for 06/03/2023.how to trade option today with strategy .

Yesterday market 

As we know that in the last trading session a healthy green candle is formed  which means the bulls are in control and the market close is around 17592 .

Plan for next trading session 

Nifty 

As per the price action as we know that a healthy green candle is formed next 2 days market will closed so there are 3 possibilities is arrive one is gap up  2nd one is gap down 3rd one is sideways  so we make a plan for this 3 situation .

                                               In a nifty way, consider all levels as support and resistance because the market is not in our hands .as per support become resistance  

Concept .

                     First level  is 17594 as per the closing of market .Second level is 17643 as per the day high and 17530 is the importance level if its breakdown the target is 17465 if breakdown candle is healthy candle so you go to words pe and make good profit .next level is 17390 as per the price action . 

India vix is around 12 to 13 so that option selling is more relevant then option buy .

 

As you see in a chart  are the levels . all ways follow your rules and risk reward ratio. Data analysis 

 

As per the option data the pcr is show that the put seller are more than call seller means the market is ready to go up.

   

Data analysis 

 

As per the option data the pcr shows that the put seller are more than call seller means the market is ready to go up.

Bank nifty 

As per the price action the levels are 41383 if its brake go towards ce target is 41653 and if it brake 41183 go down word pe and the target is 40980.next level is down word is around 40550.