Bank Nifty: Chart set u p & strategy for 30 July 2020
Updated
Bank Nifty
Closing Price 20359
- Bank Nifty is trading at the lower end of the range
- in line with my Nifty view which we suggested a range bound activity
- Bank Nifty would also likely reflect a possible range bound activity
- Weakness would intensify only once it closes below the Black line
- Sustaining above 22500 for 3 consecutive days would open up doors for further up movement
______________________________________________________________________________________________
Given the chart set up one may consider selling Bank Nifty 30 July 23000 Call option ( CMP 423.5) on rise especially towards the range of 500-550
Max profit potential Rs 12500/- to 13750/- per lot
Yield potential 11.26% - 12.4% approximately
Loss protection for a rise up to 23500 - 23550 till 30 July 2020.
However as suggested above, we would recommend to exit if Bank Nifty sustains above 22500 levels
Discliamer:
- The view expressed here is my personal view
- Use this for educational purpose
- Any decision you take you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
Closing Price 20359
- Bank Nifty is trading at the lower end of the range
- in line with my Nifty view which we suggested a range bound activity
- Bank Nifty would also likely reflect a possible range bound activity
- Weakness would intensify only once it closes below the Black line
- Sustaining above 22500 for 3 consecutive days would open up doors for further up movement
______________________________________________________________________________________________
Given the chart set up one may consider selling Bank Nifty 30 July 23000 Call option ( CMP 423.5) on rise especially towards the range of 500-550
Max profit potential Rs 12500/- to 13750/- per lot
Yield potential 11.26% - 12.4% approximately
Loss protection for a rise up to 23500 - 23550 till 30 July 2020.
However as suggested above, we would recommend to exit if Bank Nifty sustains above 22500 levels
Discliamer:
- The view expressed here is my personal view
- Use this for educational purpose
- Any decision you take you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
Trade active
23000 Call option high made so far 502
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.