Today as per volumes retailers have been pushed up with high volumes moreover traders should observe upper and lower orange support lines which acts as swing trade and blue channel acts as a down trend channel. SO, as per my rule no trade and trade is going with global markets view. Finally i will take a look in second session .
Bank nifty trading in the channel with lower lows and higher high which makes a swing trade with a range of -3.70% in a monthly view not a weekly here we go technically selling CE on high and sell PE on lows when revert in channel swing trade. Upper side trading is only seen when index break even the top channel. In futures same as fallows with swing trade.
As we see the channel there is an breakdown at threshold point where index is heading back to test at 17480. if there is sudden spike with huge volumes there should be a short-cover to target 17880. So, now i sell 17850CE weekly expiry.
Tesla trading in horizontal trend line with 940 resistance and 840 support no higher high seen however stock is overbought. If stock break and open below 840 we can see lower lows with strong support at 700 weekly trades: sell 940CE at 8 CMP tg to 0, sell 840 PE at 6.6 cmp tg 0, 2nd sep buy 900 PE at 40+ tg 55 Currently i don’t see any uptrend so 1 way trade...