The strategy will be in loss if 18 Jun expiry closing is below 9235. However we would be skeptical if Nifty closes below 9520 giving us ample opportunity to adjust.
Sir, I am having a straddle at nifty 9800 strike price for 18th June expiry. My cost price 160/-.please suggest.
indiamarketoutlook
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@rahul5275, hi rahul
If I have understood correctly, u have a Long straddle.
Did u mean ur cost price Is 260?
Coz the current cost of straddle is 253.
If ur Cost price is 160, that's a very good price that u have got and U r already sitting on a profit of 58%
And looks likely to yield even a better price today.
So maybe u can suggest what target u had in mind when u entered the trade.
AnilChadda
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I am holding Lot of Nifty July Futures SOLD at 9888
Please suggest
indiamarketoutlook
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@AnilChadda, In short term, Nifty is more of a range-bound.
Needs a close above 10035 for more upside.
Important levels on lower side 9902 / 9864 / 9753
Overall, prima facie, as of now, the structure has a higher probability of moving towards 10550 zone . Skeptical if Nifty closing is below 9753 & the view gets invalidated if it goes below 9540.
Given the view, if I were you, I would consider to exit from short position