Any price action trading is based on three directional biases - Uptrend, Downtrend, and sideways. In options strategies, knowing the range in the sideways market will always create an edge. Particularly, when you are trading on intraday, and weekly expiries, it is essential to know the range of indices that will be advantageous.
The historical fact is that the market makes directional moves only less than 30 per cent of the time. Remaining 70 per cent of the time, it makes trending moves. If we know the ranges in this 70 per cent of the time, it is easy to build strategies. Historically, over 70 per cent of the time, weekly, the Banknifty moves less than 1000 points. Suppose you understand this historical range, except in a highly trending market. Generally, these strategies are categorised as a limited return and unlimited risk. But, in a genuine sense, the risk has no relevance. The risk is minimal for anyone who understands the risk-reward ratio calculation and breakeven levels.
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