Reason for 43850 butterfly
a) possible expiry at 43850 or 44100 level
b) 44100 is because all indicator showing bulliness and possible expiry is week high by forming new high
c) yesterday sell off is not fruitful, Hence bear may try to pull back towards 43850 level, as yesterday, YL taken off and immediately it went up. Hence, the possibility of today is to repeat the same yesterdays pattern.
d) the second possibility is to reverse of yesterday: i.,e., it may go higher and make false high by 11.30 and then close days low.
In both case butterfly strategy will work. but major challenge is time and zone of entry.
a) possible expiry at 43850 or 44100 level
b) 44100 is because all indicator showing bulliness and possible expiry is week high by forming new high
c) yesterday sell off is not fruitful, Hence bear may try to pull back towards 43850 level, as yesterday, YL taken off and immediately it went up. Hence, the possibility of today is to repeat the same yesterdays pattern.
d) the second possibility is to reverse of yesterday: i.,e., it may go higher and make false high by 11.30 and then close days low.
In both case butterfly strategy will work. but major challenge is time and zone of entry.
Trade closed: target reached:
44850 bfly good profit