We had highlighted how Gaps in the zone around 10780 is acting as a crucial zone for Nifty .
Take a look at the chart again...
What we have seen today morning is another example of it. Another Gap up opening in the same zone.
Above 10780 Bulls have the upper hand.
But the question is Will it survive this time round...This is the 4th attempt now. Remember, this also suggests on 3 prior occasions it had failed.
resistance is around 10890.
Sell if Nifty is closing below 10780 on hourly chart or near with a sl of 40 points.
Alternatively one may consider selling Nifty 11000 Call option currently around 105
Lot size 75
Max profit potential of Rs 7875/- if Nifty closes anywhere below 11000 on 31ST Jan 2019.
The strategy has inbuilt loss protection for rise up to 11105 till expiry.
Take care and safe trading...!!!
Recommended selling at 105
Take care & safe trading...!!!
Nifty as suggested in the analysis above is struggling to hold on to the gains.
Nifty 11000 Call option is currently trading around 75
Strategy to sell Call option is doing well...
Trail SL to 95 and ensure profitability in trade.
In case u like the idea and feel the analysis is helpful do hit the LIKE button
Happy & safe trading...!!!