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Nifty: Would the green zone provide support...???

NSE:NIFTY   Nifty 50 Index
Nifty Closing Price 14238

- Nifty has seen a drop of 500 odd points from the top of 14753
- in the last 2 trading sessions, Nifty has traded the channel well...

What next?

Till the time green zone is held on to, Nifty has a possibility to bounce back...

Important levels on the downside: 14213 / 14193 / 14148 / 14105
Important levels on the upside : 14288/ 14320 / 14358 / 14445 / 14530


Take care & safe trading...!!!

Disclaimer:

- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
Comment:
Nifty low in early morning trade.

Risk to go long is less from current levels
Trade active: One may consider Selling Nifty 14050 Put option
CMP 60

The strategy gives a risk cover for a fall in Nifty price up to 13990

Comments

I think it would, Nifty has fallen sharply in the last 3 sessions and may bounce from 14100 nearby levels. Rest we would see what market has kept for us tomorrow.
Reply
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