NIFTY - Weekly selling momentum has bottomed: BUY CALLS

Apr 3, 2023

• Nifty has bottomed on a weekly basis and bounced back from the 16900 levels - clearing all shorts
  
• Historically this has happened a few times - and every time it does tend to revert back to the mean - in this case 17800
  
• On Monthly charts - there is a reversal in momentum for the first time since 2021 end
  
  
• How to play this? Implied vol for June options is incredibly cheap at just 11% (Maybe in the bottom 10 percentile)
  
• Buy 17500 call and sell the 18000 / 18500 call for june for a 1:2 risk reward
  NIFTY

Apr 22, 2023

Note

Continues to be a pattern to hold - target 18000 by may or jun 2023

Apr 24, 2023

Trade active

Can add some more and pyramid into the position - the market continues to gring higher - although i think the bank nifty is a far better instrument to trade into strenght

May 8, 2023

Trade closed: target reached

Target on May calls reached. Now roll to June - will make a new idea
Trade made 100% of the target set out as Nifty touches 18300