76 Super Tips to make killer profits doing Option Buying in #BankNifty

On the occasion of our 76th Independence Day.
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76. BankNifty's move depends on moves of mainly 5 banks - HDFCBank, ICICI Bank, SBI, Kotak & Axis bank: track OI buidup & PA of these daily.

75. Open charts of each of these banks daily & see which is near an important resistance or support, that can affect BankNifty's movement immensely the next day - track that bank closely the next day.

74. HDFCBank (26%) & ICICIbank (23%) are the biggest contributor in BankNifty : give more importance to these two.

73. SBI, Kotak & Axis bank each contribute around 11%, but if two of them align with each other & HDFCBank & ICICI are neutral, they'll decide the direction.

72. SBI being the major PSU bank, can move opposite to these giants & create a turbulence, keep it in mind.

Here's a super setup with a ~70% win rate & very high R:R for Options Traders.

Name of this setup is - FSC.

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Principle - The First 5/15 min candle of the day is very important. It gives a good indication of what is going to happen with that Index/stock in intraday.
One of the many types of candles is 'Strong' candle.

A strong candle is the one that either has no wick or has a wick on the downside (for green candle) or on the upside (for red).
Now if this candle forms in the first 5 min of the day, it's called FSC - First Strong Candle.

Entry Criteria - Enter at 9:20 am on the Stock forming FSC in 5 Min TF. Go long if FSC is green, short if FSC is Red.

Instruments - Can go with Options, Futures or even cash. Remember this is an Intraday strategy.

SL - low of FSC.

Trailing of SL - using PA-based pivots. You can use VWAP too.