Nifty 50 IndexLong
Nifty 28th Aug 2023 Analysis (Today)
Nifty is at the NICE support zone, a Strong demand Zone for now. Nifty will get bullish from here.
My entry will be a nice breakout of the given trendline, which will be after 19350. After that, Nifty might take a minor resistance in the range of 19560-19600.
I will play Put Selling because it might take resistance at 19560-19600. In that case, the buyer's premium will decay due to that.
So, Put selling is a safe game until it's taking support at 19250.
RSI = overbought
MACD = looks bullish
Verdict: Play Long Side Put Selling until 19250 is working as support.
My entry will be a nice breakout of the given trendline, which will be after 19350. After that, Nifty might take a minor resistance in the range of 19560-19600.
I will play Put Selling because it might take resistance at 19560-19600. In that case, the buyer's premium will decay due to that.
So, Put selling is a safe game until it's taking support at 19250.
RSI = overbought
MACD = looks bullish
Verdict: Play Long Side Put Selling until 19250 is working as support.
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