Short at higher and magatic target is at control price for NIFTY

Kinnari_Prajapati Updated   
NSE:NIFTY   Nifty 50 Index
Though nify price is rotating in a tight range, yet any resistance from above can play an important role for the seller.

Last Friday, I suggest buying BANK NIFTY PUT of strike price 29500, 39-43 for target...

I suggest sell NIFTY above the value high and buy below value below. As per this statement, green drew "control price" will be a target for a seller and a buyer. As a trader must look to trade when the market imbalance.

Expecting again tight range for Monday trading, because there is not important news.

Following below points are important for Traders :
  • WPI inflation and Balance of Trade data for March will be announced on April 15.
  • Monetary Policy Minutes of MPC meeting held earlier this month will be released on April 18.
  • Foreign exchange reserves for the week ended April 12 will be announced on April 19.
  • 2019 Lok Sabha elections will continue to be a key factor to watch out for as it will decide which party will rule the country.
  • The risk is rising for taking fresh trade at higher zones.
Trade active: BUY 11700 PUT OF NIFTY between 51-59 with stoploss @49 adn targets 69-72 and cross if 75, then 92-127 (CMP @60)
Trade closed manually: EXIT FROM NIFTY PUT strike11700.. between 57-59 ... CMP 56 ... Risky traders can wait only. ...

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.