- 21220 is acting as an excellent resistance
- 21120 is acting as an excellent support
- VIX is very low and the market is range-bound
- We can see that the market is forming lower highs on keen observation.
Based on the above a conservative trade idea would be 21100-21250 strangle.
A much riskier trade would be going short with SL 21190 and targets 21120 and 21090.
Trade active:
I'm done for the day. Only very small positions in this trade. Use 5 mins charts to see lower highs formation.
Comment:
Entered 21150 PE @ 9
Comment:
Partially booked @ 14. SL trailed to 8.
Comment:
partially booked @ 18. SL moved to 10
Trade closed manually:
Booked at 13
