Dear Hardik,
All levels calculated based on Open Interest only, There are 2-3 Major tasks to be done when you trade Options:
1. Calculation of OI at multiple strikes ending with 00 like 6100,6200,6300 for both Call and Puts
2. Based on OI developing you need to consider which Levels would be best if Any option to be write (Same time you have to keep eye on last 15 trading sessions too across all strike prices)
3. Always try to sell option using hedge if you are new to options as it gives you sufficient time to plan exit from trade even if Nifty makes sudden movement of 150-200 points in 1-2 trading sessions.
These are some points for which you need to do homework before planning any trade. As far as options trading is concerned, there are more than 1000 strategies available if you read any book on Options. But till now I never found even a single book which talks about considering Open Interest be it bull spread, straddle, synthetic, combo, ladder, butterfly.
All such strategies make your calculations so difficult in end that sudden movement in Nifty by 100-150 point in 1 trading session make you feel lot more confused and in end left with losses in your pocket.
But if you learn the art of Options trade using Open Interest, you will get 1 method of earning income in your life with risk factor of just 5% of losing your capital in longer period.
Most of viewers who read this thread must have jobs in their hands and same time they want to use their surplus capital in some good manner rather investing in FDs or MFs where you have no control in the returns.
But Options is one such platform where you can generate capital based on your capability level to understand market much faster than others and take quick decisions.
Just be with this thread, all profits and losses will be shared too along with all viewers as month progresses. In very first thread it was declared using Open Interest you can expect 10~15% returns easily. And if by month end I successful in achieving same, in next month i will guide all viewers how to trade options using Open Interest.
I would first like to win the confidence of viewers with the strategy which I have developed based on my experience and skillset only.
If viewers are convinced, they can take the same art from me and apply through out their lifes to earn side by side income for entire life.
Thanks
ANkur