NIFTY has witnessed range bound session for the whole of June Series. Range of approximately 265 points. It has come at a very good breakout level Considering BankNifty has not HIT its all time HIGH , Momentum in BankNifty may propel Nifty towards 16000 levels.
Idea would be to take a strangle on Nifty with a range of 400 points For directional traders, hedge with a PE or CE for Long on Futures or Short on Futures with SL of not more than 2000 per lot (40 points)
Wait for hour candle close above the levels before making any positions.
Do not trade naked options Do not trade without stoploss