Anticipating Short-Covering: Nifty50 Spot Recovery Strategy

Apr 26

I anticipate a short-covering rally in the Nifty50 spot, expecting a recovery as long as the spot doesn't dip below 22323.60. I've taken a long position below 22442.20, with a strict stop loss set at 22323.60.

Apr 26

Trade active

Bought 22300 Call Option (2nd May 2024 Expiry) @ 242.20

Apr 26

Note

Holding till expiry (2nd May 2024) Stoploss & Target Premium.

Apr 29

Trade closed: target reached

Booked Profit from 22300 call option @ 381.00