I'm getting lots of queries that how you select stock or index options.
Here is the explanation--
First of all search which sector is bullish or bearish account to current market conditions.
Let suppose nifty is bullish then search for bullish sector eg - nifty metal.
one thing is clear that metals are supporting Nifty then have to find which stock is moving accordingly
Eg - Hindalco vedanta
Now have to choose which stock have to buy
Look at it's open interest buildup, support resistance.
If both vedanta and Hindalco fulfill above condition then look at it's risk reward ratio.
For vedanta risk is 2 points for 1.5 points profits but in Hindalco risk is also 2 but profits probability is 3 points then go for Hindalco.
For Index options
Find whether index is bullish or bearish.
If bullish then search for a support or wait for resistance to get break.
Let suppose Banknifty has *support at 38500 and resistance 38800.
You have buy only at 38450-38500 or you have to buy above 38800 for next resistance of 39000.