31Oct 2024 - Nifty Predictions (Next Trading Day) (Weekly Expiry

30 окт.

Index Chart Information:

Index: NIFTY 50
Date: October 30, 2024
Time Frames: Daily (D), Weekly (W), Monthly (M)

Expected Support and Resistance Levels for the Next Trading Day:
Based on the closing price of 24340.85, here are the support and resistance levels derived from chart analysis:
Support Level 1 24000
Support Level 2 23850
Resistance Level 1 24500
Resistance Level 2 24700

Market Scenario for the Next Trading Day:
Market Opening Likely Gap Up
Expected Movement Bullish
Specifics Start bullish and then range-bound

Options Strategies and Specific Strikes for the Next Trading Day:
To provide a clear approach based on the support and resistance established:
Option Type Strike Price Strategy
Calls 24500 Buy Call
Puts 24000 Buy Put

Calendar Spread Strategy:
For building a calendar spread:
Duration Strike Price Comment
Daily 24300 Near current price for short-term trades
Weekly 24500 Captures next week’s movement
Monthly 24700 Long-term strategy for expected price increase

Trading Recommendations on ATM, ITM, and OTM Options:
Trade Type Recommendation Notes
ATM Trade Good volatility; ideal for quick moves
ITM Consider Trading Less risk, higher premium cost
OTM Watch Only Higher potential reward but very risky

This revised response aligns with the closing market price of 24340.85 and allows you to make informed decisions based on the technical analysis of the charts provided. If further adjustments are needed or additional insights are required, feel free to ask!