NIFTY SYMMETRICAL TRIANGLE WITH OPTIONS TRADING STRATEGIES

NIFTY Symmetrical Triangle

After being stuck in a range this week, the Index is expected to be directional next week.

Tomorrow's Range: 17,000 - 17,300
Bullish: >17,300
Bearish: < 17,000

Long Strangles recommended for 5/5 Expiry

Comment:

Nifty opened at upper resistance line of the symmetrical triangle.
Forward Projections:
1) IF Nifty closes above 17,380 today, Target is 17,850
(Big IF)

2) Else double-top in hourly chart comparing the 21/4 and 29/4 highs.
Target 16,800.