Intraday Trade Setup - Nifty Wave Analysis: Today's Expiry
Nifty Analysis (15-Minute TF): June Monthly Expiry - 27-06-2024
Nifty is in the final leg of Wave 5. The third wave of Wave 5 was completed yesterday, and we are likely to see the 4th and 5th waves today.
Nifty might take the morning session for Wave 4 and the second half for Wave 5.
We have mentioned entry and exit points in the chart; please refer to it.
Buy Entry: 23,740-23,770
Average Place: 23,700-23,720
Stop Loss: 23,680 (very small stop loss)
Options Strategy:
Option Selling:
1. Strangle and straddle will work in the morning session.
2. Go for directional PE selling near our buy zone and sell more lots near the average place with the stop loss mentioned above.
Options Buying: We don't recommend option buying. However, if you try option buying, take the next week's expiry near our buy zone and keep a strict stop loss at 23,680.
Futures Buying: We can consider buying Nifty July Future with next week PE hedge too.
Disclaimer: We are not SEBI registered. The content presented here is based on our personal opinions. Conduct your own research and consult with a qualified financial advisor before making any investment decisions
Nifty is in the final leg of Wave 5. The third wave of Wave 5 was completed yesterday, and we are likely to see the 4th and 5th waves today.
Nifty might take the morning session for Wave 4 and the second half for Wave 5.
We have mentioned entry and exit points in the chart; please refer to it.
Buy Entry: 23,740-23,770
Average Place: 23,700-23,720
Stop Loss: 23,680 (very small stop loss)
Options Strategy:
Option Selling:
1. Strangle and straddle will work in the morning session.
2. Go for directional PE selling near our buy zone and sell more lots near the average place with the stop loss mentioned above.
Options Buying: We don't recommend option buying. However, if you try option buying, take the next week's expiry near our buy zone and keep a strict stop loss at 23,680.
Futures Buying: We can consider buying Nifty July Future with next week PE hedge too.
Disclaimer: We are not SEBI registered. The content presented here is based on our personal opinions. Conduct your own research and consult with a qualified financial advisor before making any investment decisions
Trade closed manually:
Time: 10:58 AM, 27th June 2024
All targets were hit, but the entry didn't trigger; it was missed by 30 points in the morning.
Option sellers who took strangle and straddle positions are in decent profit. Hold until 3 PM for good returns with small risk.
All targets were hit, but the entry didn't trigger; it was missed by 30 points in the morning.
Option sellers who took strangle and straddle positions are in decent profit. Hold until 3 PM for good returns with small risk.
Comment:
23900 straddle almost gave us 120 points and OTM PE CE sell premium also crashed.