Post-expiry trade strategies for NIFTY & BANK NIFTY | How to trade NIFTY & BANK NIFTY after expiry
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Good morning! In today’s analysis, we’ll dive into the post-expiry trade setup for NIFTY and BANK NIFTY. After a volatile expiry session, where both indices showed sharp moves, it’s crucial to understand how they might perform next. In this video, we'll discuss the key levels, open interest (OI) data, and provide strategic insights that can help traders navigate the current market conditions.
*NIFTY Analysis:*
The NIFTY index experienced a volatile session during its expiry, with significant swings in both directions. The index respected our previously highlighted 15-minute trading range, which offered valuable guidance during the sharp movements. On the daily chart, NIFTY broke below the low of the previous Doji candle and closed beneath it, signaling potential weakness. Today’s weekly closing becomes critical. If NIFTY manages to hold the 24,000 level on a closing basis, it could continue its consolidation between 24,400 and 24,000. However, decisive directional cues will only emerge once NIFTY breaks out of this consolidation range.
Open interest data for the 14th August expiry shows no clear directional bias at the moment. The highest call OI at 24,500 highlights a significant resistance level. Traders should align their strategies with today’s weekly close and any changes in OI to position themselves accordingly.
*BANK NIFTY Analysis:*
BANK NIFTY mirrored the volatility seen in NIFTY, maintaining its rangebound activity within the 50,500 to 49,700 levels. The index continues to consolidate between its 50 and 100 DMA, making it less favorable for fresh short positions due to an unfavorable risk-reward ratio. Until BANK NIFTY breaks out of this range on a closing basis, either capturing the 50 or 100 DMA, traders might consider rangebound strategies and react to any potential breakout accordingly.
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