Short Strangle NIFTY

NSE:NIFTY   Nifty 50 Index
Max Pain is at 12100
PCR is 0.75(Neutral)

The market is near Fibonacci Support, PCR of ATM Strike is 1.39(Highly Bullish )

Change in OI on 12100 CE is very huge which will act as Strong Resistance

The market may open lower Near Fibonacci Support and then head toward 12100 Level or Opening may be positive and then it will head towards 12100 Level
When markets will be at 12100 levels it will face strong resistance which will push Nifty downwards then the Support of 12050 Strike/ 12044 Fibonacci Support
will be broken or markets may become range-bound their.

Short 12100 CE @ 41.22
Short 12000 CE @ 25.25

SL = 5
Max Loss = 750
Max Profit = 4985

Happy Trading ...
Trade closed manually: Loss in 12100 CE = 5 ( SL )
Profit in 12000 PE = 24.35

Net Profit = 19.35 * 75 = 1451

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