NIfty view for one week, Market seems bullish from here.

Aug 28, 2023

Good Morning Mates,
Gift nIfty indicating Nifty is going to open marginally higher today around 40 points. On Friday it was surely very confusive market for most of the trader, Nifty closed 120 points lower at 19265. Chances are high that the NIfty may get support at 19236 followed by 19211, Upside there is resistance at 19321, followed by 19373. But it seems We will cross these resistance in coming days. Nifty is getting ready to fly towards 19475+ levels. Global markets also supporting, Asian Market looking Green everywhere, Most of the Indices trading 1% above today. Let's see how is going to start our market.

Important levels for nifty:-

Support zone 19211-19236
Resistance zone 19321-19373

Buy( Accumulate ) in the range of 19255-19325.
Targets we can see in upside 19321/10373/19475+
Keep stop loss at 19175


I have an Option trade (Bull call Spread):-

Buy 19300 ce now at 72
Sale 10400 ce now at 38

Prob. of Profit 36.81% (I am giving all estimation on 1 lot)

Max. Profit in ₹ +3,268 (16.98%)
Max. Loss ₹ -1,732 (-9.00%)
Max. RR Ratio 1:1.89
Estimated Margin/Premium
₹ +19,244

Note:- Prices are according to friday closing as market is going to open almost 40 points gap up, so adjust accordingly in both strike prices.

Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades.

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Thankyou.

Aug 28, 2023

Note

NIfty has given good move,,our trade also doing good 19300 ce now 100+
now nifty have break first resistance successfully.. it is going towards 2nd target..