Nifty closed @ 9250. There is a supply zone @ 9260-9310, resistance @ 9440 and major supply zone @ 9500-9590.
*There is a strong demand zone @ 8970-9000 and minor support @ 8800 on the downside.
*Nifty is trading in the wide sideways range of 9000-9500. In the sideways range, I will prefer to trade in OTM option writing. I will prefer to take a position in FUT once breakout or breakdown if this range.
Nifty will test 9000 or 8950 by this Thursday..as data showing down words ..and .If global market will go down ..Specially Dow futures and SGX nifty..Your suggestion on it
Swapilchoksi
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@vlakeshri, as I have mentioned in my post-Nifty is trading in the wide sideways zone...I give more weightage on chart and price. right now I have a short position in NF through call writing...still there is no signal in Nifty chart to trade below 9000 and sustain...
I shorted fut@9825 but exited the position @9469 by mistake. On Friday, I hv sold put and call@The money. Results on Monday morning. Your observation is 100 percent right.
Swapilchoksi
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@sm266, THANK X ... NF is sideways so its better to trade in option writing...
sm266
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@Swapilchoksi, short staddle is the best strategy now. However, you can try take this short straddle position with negative bias in mind. Which means call@highier level and put @step lower than call.