Nifty: Trading idea for 21 May 2020 expiry

May 15, 2020

Nifty CMP 9154


Weekly closing below 20 day EMA weakens the structure.

Any move towards 9220-9240 next week should be watched carefully.

Alternatively
one may consider selling Nifty 21 May expiry 9400 Call option around 75-85 ( Cmp 78)

Take care & safe trading!!!

May 15, 2020

Trade active

This is daily chart




Target 8980 for Nifty spot

May 18, 2020

Trade active

Nifty 21 May expiry 9400 Call update
Given sell @ 78
Cmp 36

Current profitability 75*(78-36)= Rs 3150/- per lot

Happy trading...!!!

May 18, 2020

Trade closed: target reached

On Friday, although Nifty was in recovery mode in last 2 hours, we had suggested weekly closing below 20 day EMA weakens the structure & Accordingly we had positioned our trade

Result is in front of you.

Nifty has made a low of 8894 so far.

As I always say, charts do try to tell us a lot.

Learn their way of communicating & improve your chances of winning trades...!!!

Those who are interested can get in touch. Learn & grow