Nifty: At important support levels
- Nifty near its March bottom
- if holds on to 15680-15720 zone then it could be a case of Double bottom
- Target could be retest of 20 day EMA / 50 day EMA / 200 day EMA ( use charts to keep track of these levels as it changes with every trade day)
- trend line resistance around 16680 / 16800
Risk factor
- we see 50 day EMA crossing below 200 day EMA which is also referred as Death Cross
Can Nifty stage a comeback...?
or
are the Bulls down and out...?
Only time will tell...
Important levels have been given and different scenarios have been considered....
Given the set up,
My Trading strategy: Gone with a 26 May expiry 15300 Put short @ 107
- Strategy has a 9% profit potential on margin requirement
- it also gives protection for a fall up to 15193 till May expiry
Will consider to Exit / Review if Nifty closing is below 15680.
Take care...!!!
Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
- if holds on to 15680-15720 zone then it could be a case of Double bottom
- Target could be retest of 20 day EMA / 50 day EMA / 200 day EMA ( use charts to keep track of these levels as it changes with every trade day)
- trend line resistance around 16680 / 16800
Risk factor
- we see 50 day EMA crossing below 200 day EMA which is also referred as Death Cross
Can Nifty stage a comeback...?
or
are the Bulls down and out...?
Only time will tell...
Important levels have been given and different scenarios have been considered....
Given the set up,
My Trading strategy: Gone with a 26 May expiry 15300 Put short @ 107
- Strategy has a 9% profit potential on margin requirement
- it also gives protection for a fall up to 15193 till May expiry
Will consider to Exit / Review if Nifty closing is below 15680.
Take care...!!!
Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.