NIFTY stuck in 2 channels?

Jun 28, 2022

You might be now aware of the downtrend channel of NIFTY 50 (Blue). It bounced from the lower end of the channel last week and now trading near the supply zone of older channel (Green). It may consolidate in this channel for a while but chances are that it can break this channel to get into bearish territory.

Jun 28, 2022

Note

Ideas to trade the market:
1. Naked PUT buying if it breaks the downside of blue/green channel
BUY NIFTY AUG 15200 PE
2. PUT spread
BUY NIFTY JUL 15700 PE
SELL NIFTY JUL 15200 PE
Disclaimer: I am not SEBI registered financial advisor. I am sharing the ideas just for discussion.

Jun 29, 2022

Note

Still stuck in this green channel. Looks like it won't leave this for the next 2 weeks. Although hoping for eventful expiry tomorrow.