Nifty may stay sideways in the range of 15800 to 15700 Being last expiry of the month volatility is expected. Follow the targets with trading rules
Immediate Support: 15800
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As you se Banknifty touched First Resistance in morning.
And then its going reversal already it breaks First support.
So wait for the second support if it's break them you can go for PE
And if it breaks support first on upside you can go for CE
M&MFin cash - Short
Entry : 206.40 (below 12pm's 15min candles low)
Stop loss : 208.40
Target : 204.40 & 202.40
The analysis is based on simple price action only. Entry point given are valid if the resistance / support breaks convincingly. For that learning candlesticks psychology is a must one.
Note : Don't jump in to the trade once market reach the entry...
Educational Purpose only!
On daily time frame yesterday nifty opened big gap up and formed inverted hammer. To digest that big momentum it has to go sideways so this is good oppourtunity for option traders, simply sell a infy 960 CE and wait for some days you will get theta value.