NSE:NIFTY   Nifty 50 Index
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Updates for the week. NIFTY a trade plan:

Buy the dips galore.

16400 has been confirmed as a bottom possibly for this expiry, incase 16400 breaks there might be a big dip and hence lets keep an sl of 16410 to be safe and buy the dips in the coming days.

Tomorrow strategy

I foresee this call oi at 16500/600 that has come up to get into trouble by wednesday however writers are champs they manage right πŸ˜‰ so i think there might be a trending up day by wednesday scaring the weak writers and then consolidating on expiry to again much below 16700 and moving towards 16900+ by month end may be.

The view collapses if 16400 broken and shorting there i guess would be enough incase comes to make good money. Above that im guessing there shouldnt be shorting except above 16700 if comes this series and breaks below 16700 for a 100pointer.

Trade plan

Trade 1: buy the dips to 16450 with stops at 16410 for a 200+pointer overnight too holding for wednesday.
Trade 2: if dip does not come buy above 16625 for a 100point tgt
Trade 3: Short below 16700 if consolidates or turns from there short only the dip below it for a 100pointer.
Trade 4: if at all falls below 16400 short and hold for a 200pointer and keep wider trails and stops when comes if comes.

Comments

Option trade only for tomorrow :

Sell strangle 16450/550 or straddle 16550 on open at around that

Stops at 16410 and upside at 16590. Since my bias is flat tomorrow and might be a fall in range. Right from 10min atr to hourly atr have been heated up may be tomorrow a little crush.
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