Nifty: Election results... chart set up... trading strategy
With Election results behind us, let us look what the chart is trying to tell us
We see Nifty respecting 22653-22705 odd levels both as support, then resistance. Now Nifty is trading above that zone
Nifty trading above 200 day EMA... 63 day EMA... 21 day EMA... 5 day EMA
Given the chart set up, one may look to buy any dips.
My preferred trading strategy
Sell 13 June expiry 22700 Put option currently trading around 148-150
Profit potential of around 6.5% per lot on Margin
Time period: 5 trading days
Strategy has inbuilt Protection for a fall in Nifty price up to 17550-17552 odd levels till 13 June 2024
Trading in F&O involves risk
Pls follow Risk Management measures
Consult your financial advisor before taking any decision
Take care and Safe trading...!!!
We see Nifty respecting 22653-22705 odd levels both as support, then resistance. Now Nifty is trading above that zone
Nifty trading above 200 day EMA... 63 day EMA... 21 day EMA... 5 day EMA
Given the chart set up, one may look to buy any dips.
My preferred trading strategy
Sell 13 June expiry 22700 Put option currently trading around 148-150
Profit potential of around 6.5% per lot on Margin
Time period: 5 trading days
Strategy has inbuilt Protection for a fall in Nifty price up to 17550-17552 odd levels till 13 June 2024
Trading in F&O involves risk
Pls follow Risk Management measures
Consult your financial advisor before taking any decision
Take care and Safe trading...!!!
Comment:
Nifty has given a nice 250 plus point jump so far from levels, when idea was published.
Nifty has given a nice 250 plus point jump so far from levels, when idea was published.
Strategy has inbuilt Protection for a fall in Nifty price up to 22550-22552 odd levels till 13 June 2024