Reason for 19500 Bfly
a) Monthly close looks like doji type of candle Hence Bfly @19500 with 100 pts wings looks to be appropriate
b) Global clues are little neutral
c) Crude oil price is little stable
d) US price trying to re bounce from low level
e) Morover option sellers of Big B tries to be at 19500 because, at start of this month creation, the range was 19200 to 19900 level. It looks respecting in this month as per option sellers criteria.
f) For very conservative trades @ Butterfly at 19500 and 19200 looks more appropriate for this monthly expiry with 100 pts wing.
a) Monthly close looks like doji type of candle Hence Bfly @19500 with 100 pts wings looks to be appropriate
b) Global clues are little neutral
c) Crude oil price is little stable
d) US price trying to re bounce from low level
e) Morover option sellers of Big B tries to be at 19500 because, at start of this month creation, the range was 19200 to 19900 level. It looks respecting in this month as per option sellers criteria.
f) For very conservative trades @ Butterfly at 19500 and 19200 looks more appropriate for this monthly expiry with 100 pts wing.
Trade active
Trade closed: stop reached