Nifty Bank - Inverted Head and Shoulder Pattern -
Nifty Bank has inverted head and shoulder pattern.
Hence, if the neckline broke above 20000.
The open interest is very high in 18000 PE and 19000 CE.
Hence the range bound 18400 to 19000.
Hence, My strategy for the bank nifty as below:
Selling Options: 19400 CE and 18000 PE
Sell Bank Nifty @ 18800
Target - 18400
Disclaimer: Kindly do your own analysis before executing the trade
Hence, if the neckline broke above 20000.
The open interest is very high in 18000 PE and 19000 CE.
Hence the range bound 18400 to 19000.
Hence, My strategy for the bank nifty as below:
Selling Options: 19400 CE and 18000 PE
Sell Bank Nifty @ 18800
Target - 18400
Disclaimer: Kindly do your own analysis before executing the trade
Comment:
18000 PE Selling Stop reached
Trade closed: target reached:
Target Reached @ 18200 . Bank Nifty future