This week’s Thursday ( Dec 19th, 2024 ) marks the weekly options expiry. Analyzing the chart, we observe an ascending channel and a descending trendline converging at significant levels for the expiry date. The ascending channel’s upper trendline intersects 25400 on Dec 19th. The descending trend-line intersects 24100 on the same date. If Nifty respects...
Currently Nifty is following a descending channel. If the channel holds till November expiry, then one can benefit from entering a Short Strangle with 23000 PE and 23850 CE for November expiry.