Nifty forming highs but be cautious

NSE:NIFTY   Nifty 50 Index
Price is moving as per previous post. Although, target is 16000+ , nifty is around resistance area so being a little cautious is not harmful. Keep a stop loss around 15300, below which it is advisable to squareoff long positions and wait for a breakout. There is a good chance 15500 will break on 31 May and close above it, if happens then probability to touch 16000 increases.

If 15500 crosses on the bullish side it is advisable to sell 15200 or below put options of June. Trade as per the risk appetite, Spreads are much better to trade as risk is defined

Disclaimer - This post is for educational purpose only. Please consult your financial advisor before taking any position.


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