vyas1394

Nifty view and levels for 09/06/2021

NSE:NIFTY   Nifty 50 Index
NSE:NIFTY
As said yesterday nifty faced profit booking majorly because of banks. Today even though nifty fell it took support at the blue trendline as planned yesterday. Currently, the price action in nifty is at a break or make level.
The price action in banknifty shows if it breaks today low a huge sell-off can happen there which can take nifty downside also.
European markets is very volatile and currently, it is drifting towards the lower side. Same is the case with American markets.
Option chain data shows short straddle is being build at 14700 strike which has a premium of around 150 rupees. and the maximum pain is also at 14700. I think the expiry is most likely to be between 15550 and 15850. More calls are written today than puts. which shows signs of a limited up move in the market till expiry.
MY PLAN.
Nifty opens flat and 5min close below 15720 then scalp till 15700-15690 ( double top break)
Nifty opens flat and 5min close above 15756 then go long with partial profit booking at 15774 and trail SL of remaining.
Nifty 5min close below 15690 next target is 15650
still short at 15400/15500 puts and 16100 calls. planning to roll the calls tomorrow.
This is my personal view on the market.
Comment: levels are on a 5min close basis

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bhaii itne dino baad🙌🏻🙌🏻
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