Nifty Long at 9100 | Stop-loss 9000 | Target 9600
Risk Reward 1:5
Nifty moving up slowly and on the daily chart, it's making series higher highs and lower lows.
The Primary and Intermediate trend is still down.
Trading this counter-trend rally with very tight stop-loss.
Risk Reward 1:5
Nifty moving up slowly and on the daily chart, it's making series higher highs and lower lows.
The Primary and Intermediate trend is still down.
Trading this counter-trend rally with very tight stop-loss.
Trade active
Comment:
Nifty up by 100 points from entry, 9100 to 9200 now.
Short Nifty April 9600 CE trading at 68.
Covered Call.
Short Nifty April 9600 CE trading at 68.
Covered Call.
Comment:
Trailing Stop-loss to 9100 at cost. Cmp 9300 ---- 12:00 PM
1:2 so far, awaiting 1:5 at 9600.
1:2 so far, awaiting 1:5 at 9600.
Comment:
Update: April 29, 2020 10:55 AM
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Nifty higher high continues. Today's closing above the previous top 9390, which is also a 0.38% retracement level form All-time high to Covid-19 Low, is important.
After three months of negative closing nifty is going to close higher for April 2020.
Our Target is 9600. The entry was at 9100.
CMP 9475
9600 CE shorted at 68 is at 12 now and likely to be 0.00 as expiry is tomorrow.
Technical we will achieve 1:5 or ( 500 Points profit ) at 9600- 68 (call premium) which is 9535.
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Nifty higher high continues. Today's closing above the previous top 9390, which is also a 0.38% retracement level form All-time high to Covid-19 Low, is important.
After three months of negative closing nifty is going to close higher for April 2020.
Our Target is 9600. The entry was at 9100.
CMP 9475
9600 CE shorted at 68 is at 12 now and likely to be 0.00 as expiry is tomorrow.
Technical we will achieve 1:5 or ( 500 Points profit ) at 9600- 68 (call premium) which is 9535.
Comment:
Comment:
Time to close the trade. 1:5+ Risk Reward Achieved.
Exit Nifty at 9800
Exit 9600 CE at 180
Nifty long at 9100 sells at 9800 = 700 Points profit.
9600 shorted at 68 covers at 180 = 112 Points loss.
Net 700-112 = 588 Points profit.
Almost 1:6 Achieved.
Exit Nifty at 9800
Exit 9600 CE at 180
Nifty long at 9100 sells at 9800 = 700 Points profit.
9600 shorted at 68 covers at 180 = 112 Points loss.
Net 700-112 = 588 Points profit.
Almost 1:6 Achieved.
Trade closed: target reached
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