Nifty: Bullish Harami Candlestick pattern observed near SupportNifty
In morning post, the importance of 20 day EMA at 15677 and 61.8% retracement around 15628 was discussed and so was the level of 15735
Nifty respected all the levels very well ( 20 day EMA on closing basis, 61.8% retracement on intraday low basis and 15738 was the high for the day)😊
- Today's closing also reflects a Bullish Harami candlestick pattern which opens up doors for some upside move
(initial targets on Nifty 15804 / 15840 and further upside if closing is above 15865)
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Our strategy update
Had suggested to consider selling 15 July expiry 15700 Put option when it was trading around 120.
Closing price 100
Profit of 20 points so far per lot (this profit is despite Nifty being 111 points lower from levels when the trade was initiated)
This is where trading strategies come in handy. It may not give exorbitant profits per trade but it surely helps in better risk management and thereby increase your probability of more winning trades.
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But don't just follow me blindly
Learn to identify such opportunities independently
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Best wishes
Vaibhav Deshpande
