Banknifty Option Buying Strategy

Hi All,

Banknifty is my favourite because of its volatility and I always try to find most safest way to trade banknifty.
I paper traded this strategy from 06-Feb to 16th Feb and my result was around 200+ points profit in banknifty options.

I want to know your's feedback over this strategy

Strategy:

When banknifty is trading at XXX00 price, like 20300,20400, 20200 then

Buy Call & put option of current month of same strike price. You can say it long straddle.

Wait for the banknifty to move 200 points either way and
Exit the profitable position at that points. and keep the other position open.

At the same time create a new straddle at the current strike price like we have done before. and again wait for the banknifty to move 200 points either side.

Keep doing the same and on every exit check your overall profit.

Here you are taking profits to your pocket at every 200 points move. You will make good if market is moving sideways.

Always follow SPOT BankNifty.
As, I have paper traded total points I made in banknifty was around 230 points.


I also applied it to Nifty for each 100 points move. Paper trade was also in profit but, I didn't count all points accurately for it. I will share it later in free time

Banknifty Option Buying Strategy