Nifty chart view & strategy for 28 May 2020 expiry
Nifty
Closing price 9066
Observation
- Nifty is trading in downtrend channel
- Important levels on the upside are 9105 / 9136 / 9158
- Important levels on the lower side 9044 / 9023 / 8996 / 8941
From positional point of view there is a possibility of Nifty heading towards 9266 / 9320 levels by month end.
Given the view, we would be considering to sell 28 May 9000 Put option in the range of 125-140
Max profit potential Rs 10500/- per lot
Take care & safe trading...!!!
Closing price 9066
Observation
- Nifty is trading in downtrend channel
- Important levels on the upside are 9105 / 9136 / 9158
- Important levels on the lower side 9044 / 9023 / 8996 / 8941
From positional point of view there is a possibility of Nifty heading towards 9266 / 9320 levels by month end.
Given the view, we would be considering to sell 28 May 9000 Put option in the range of 125-140
Max profit potential Rs 10500/- per lot
Take care & safe trading...!!!
Trade active:
We laid out our trading plan well in advance.
Nifty 28 May 2020 Put option opened at 117.55 & made a high of 129.50 ( giving us opportunity to sell in our range of 125-140)
Cmp 85.
Current profitability 75*( 125-85)= Rs 3000/- per lot.
That's the confidence that analysis can give you. When markets open, it is just execution time without any confusion.
Nifty 28 May 2020 Put option opened at 117.55 & made a high of 129.50 ( giving us opportunity to sell in our range of 125-140)
Cmp 85.
Current profitability 75*( 125-85)= Rs 3000/- per lot.
That's the confidence that analysis can give you. When markets open, it is just execution time without any confusion.
Trade closed manually:
Nifty 9000 Put update
cmp 103
despite world mkts down our mkt has done well to stay atop.
Nifty futures ATP for yesterday is 9107.
Might be difficult to get past today.
Hence Consider booking profits. We look to re-enter on Monday
Have gone short in LIC HSG FIN counter
Take care & Safe trading!!!
cmp 103
despite world mkts down our mkt has done well to stay atop.
Nifty futures ATP for yesterday is 9107.
Might be difficult to get past today.
Hence Consider booking profits. We look to re-enter on Monday
Have gone short in LIC HSG FIN counter
Take care & Safe trading!!!
Comment:
Nifty spot chart
Comment:
Despite other Asian mkts down big time
- Hangseng down 1350 points
- Taiwan almost 200 points down,
Nifty was able to defend 8941 (low of 8968) today mentioned above as support & closed between 9023-9044 again levels mentioned as support. So the structure to test 9266-9320 still remains intact.
Monday being holiday, we enjoy the long weekend and trade fresh from Tuesday
Despite other Asian mkts down big time
- Hangseng down 1350 points
- Taiwan almost 200 points down,
Nifty was able to defend 8941 (low of 8968) today mentioned above as support & closed between 9023-9044 again levels mentioned as support. So the structure to test 9266-9320 still remains intact.
Monday being holiday, we enjoy the long weekend and trade fresh from Tuesday
Comment:
Just to update LIC Hsg Finance. This was the substitute trade we suggested for the day...
Despite stock being up when recommended to go short, despite RBI Policy news that was to be announced, we ignored the News & simply followed the charts.
So still want to trade on News ???
or start listening to charts directly... If interested in learning, you can get in touch with me.
Happy learning
Despite stock being up when recommended to go short, despite RBI Policy news that was to be announced, we ignored the News & simply followed the charts.
So still want to trade on News ???
or start listening to charts directly... If interested in learning, you can get in touch with me.
Happy learning
