Swapilchoksi

Nifty Tradaing Range and Demand and Supply Zones

NSE:NIFTY   Nifty 50 Index

As I have mentioned in my earlier posts that Nifty is trading in the wide sideways zone and I will prefer to trade in option writing instead of trading in FUT . My view is still the same. So on Thursday I sold 9600 call and booked today on the lower level and made a short position in 9000 put.

On the downside 8970-9000 is a strong demand zone for this week and on the upper side minor supply zone @ 9260-9310 and strong supply zone @ 9500-9580.

Now the Nifty small trading range is 9000-9300. In any case, if it will sustain above 9300 then it may test 9440-9500.
Trade active: Sold 9000 Put @ 65

Comments

Tomorrow will be the interesting day!
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@rvbhatt, I'm wondering if we should go short if Market is up by 6-7%.
+1 Reply
rvbhatt sandeep6883
@sandeep6883, let's see how market is responding to the 9500-9600 levels in upcoming days
Reply
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