The market moved violently and remained highly volatile, swinging between 26100 and 25800 throughout the session. It finally ended the day with a Doji candle on the monthly expiry day, indicating indecision among traders.
Last week, I had suggested and created a 25800 short straddle with a total premium of ₹300. Today, the market closed at 25950, giving us a profit of around 150 points per lot on the short straddle.
What’s Next?
Over the past two weeks, the market has rallied more than 4%, and this week we’ve seen consolidation with sharp intraday volatility.
The 25800 level continues to act as a strong support zone, and once again today, the market reversed from that level, confirming its strength.
For the next 2–3 sessions, I expect the market to remain range-bound to slightly bullish.
Note: If the market closes above 26044, we can expect an upside move toward 26277 (all-time high).
Key Levels
Major Support: 25822, 25717
Major Resistance: 26044, 26104
Trading Plan / Suggestion
Consider creating a 26000 short straddle with a total premium of around ₹320.
Upper Breakeven: 26320
Lower Breakeven: 25680
This strategy provides a balanced risk-reward setup in the current volatile but consolidating environment.
Last week, I had suggested and created a 25800 short straddle with a total premium of ₹300. Today, the market closed at 25950, giving us a profit of around 150 points per lot on the short straddle.
What’s Next?
Over the past two weeks, the market has rallied more than 4%, and this week we’ve seen consolidation with sharp intraday volatility.
The 25800 level continues to act as a strong support zone, and once again today, the market reversed from that level, confirming its strength.
For the next 2–3 sessions, I expect the market to remain range-bound to slightly bullish.
Note: If the market closes above 26044, we can expect an upside move toward 26277 (all-time high).
Key Levels
Major Support: 25822, 25717
Major Resistance: 26044, 26104
Trading Plan / Suggestion
Consider creating a 26000 short straddle with a total premium of around ₹320.
Upper Breakeven: 26320
Lower Breakeven: 25680
This strategy provides a balanced risk-reward setup in the current volatile but consolidating environment.
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.
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.