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Nifty CMP 13211 On 19 Nov 2020, when Nifty was at 12770, we had mentioned this Is Nifty setting up for 13240 Nifty does the target today making a high of 13250.30 We observe the Nifty to be trading in a rising parallel up channel Given the setup one may consider the following Short Strangle strategy in Nifty for 10 Dec expiry Sell Nifty 10 Dec expiry...

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Wipro CMP 358 On November 05, 2020, this is what we had posted The price was at 347 and we had suggested to go short on 360 Call option at 4.6 In that we had mentioned SL at 365 but be watchful if it crosses level of 353. A close above that would indicate further upside movement possibly towards our SL at 365 Notice how the level of 353 acted as resistance...

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ONGC This is what was mentioned on 05 November when ONGC was trading at 67.5 The chart speaks for itself.... Do Hit the LIKE button, or comment below and follow for more such trading ideas Enjoy and Happy trading...!!!

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Nifty Closing Price 13258 If we observe the current rally and co-relate with structure we saw in Jan - Feb 2020, we observe that it has completed a mirror image pattern to the tune of 50% - the current channel size matches the size of red channel - the upward slope in blue channel matches the downward slope in red channel So far so good.... (When we had...

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Nifty CMP 13095 - we observe support potential in the range of 13035-13065 Given the set up, one may Consider selling Nifty 13000 Put option for Expiry date: 03 Dec 2020 Current price around 44 Pattern gets invalidated if Nifty falls below 13035. The strategy, however covers risk for fall in Nifty price up to 12956 on 03 Dec 2020 giving ample scope to exit...

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Nifty 13055 On 19th Nov, when Nifty saw a fall of 166 points we had suggested In that post we had mentioned the importance of 12830-12874 zone and that is precisely the level which acted as minor resistance intraday and then the next day the same zone provided support... See it for yourself And this is not like when Nifty is at the crux of 13000...

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Nifty 12771 - Nifty had a 166 point drop today - as of now it does not look like the end of bull ride but just a pause.... - chart set up still suggests that it has unfinished business & has doors open for a move towards 13240 odd levels in short term - minor resistance at 12830-12874 levels - support at 12630-12572 odd levels - pattern gets invalidated if...

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Wipro CMP 347 We observe - Wipro chart has done a gap filling activity - trading above 20 day EMA currently around 338 - 365 important gap resistance level Strategy: Given the chart set up One may Consider selling Wirpo November expiry Call Option Strike Price 360 In the range of 4.6 - 5 (CMP 4.6) Lot size 3200 A 3 day close below 20 day EMA would...

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Reliance - The region of 1850-1820 is an important support zone for Reliance - 1935-1960 is another short term important support levels to watch out for - 2057 - 2096 is an immediate resistance zone - positive momentum above 2109 levels Given the set up the stock can be looked for target of 2450 in medium term Pattern gets invalidated if weekly close is below...

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ONGC CMP 67.5 Observation - the current low of 64 odd levels is higher than the previous lows - zone of 68-71 is crucial for ONGC given the set up, one may consider to buy for target of 78 / 82 / 93 / 102 / 114 exit if stock gives a weekly close below 60 Disclaimer: - The view expressed here is my personal view - Use this for educational purpose - Any...

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Nifty Back in August, 04th August 2020, to be precise, we had put forth this scenario that Nifty could potentially make new highs in the next 6 months... . At that point it seemed crazy, ridiculous, impossible, but come November, we are in the 4th month and here we are, Nifty at a new high... This is what we had said back then... by trading above 10551 for a...

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Nifty CMP 12540 Nifty opens gap up yet another day and is up 75 odd points. So is it time to celebrate or time to be cautious??? Lets look at chart set up In the chart we observe - Nifty Breakaway Gap up - Nifty Continuation Gap up - today's yet another Gap up opening could potentially turn out to be an Exhaustion Gap So it would be wise not to get too...

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DLF CMP 165.5 We observe - the stock has minor resistance around 167 odd levels - major resistance around 173 odd levels - Weakness may be seen if stock closes below 162 for 3 consecutive days - Target in that case could be placed around 154-152 levels initially Given the chart set up, one may consider selling DLF November expiry Call option Strike Price...

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Nifty CMP 11555 The zone of 11535-11585 is a crucial decider level for Nifty - A close above 11585 would signify strength to move further upside with some hurdle at 11650 odd levels - a close below 11535 could indicate a further fall towards 11460 / 11430 levels - a close in between 11535-11585 would indicate indecision / boring range bound to continue Given...

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DLF CMP 161 - 168-172 is potentially strong resistance zone Given the set up consider selling DLF 170 Call Option 24 September 2020 expiry in the price range of 7.5-10 CMP 7.65 The strategy covers a risk of rise up to 177.5-180 levels till 24 September Discliamer: - The view expressed here is my personal view - Use this for educational purpose - Any...

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Nifty - Nifty looks likely to attempt 12240 odd levels in weeks to come - any dips could be an entry opportunity to go long Given the set up, one may consider the strategy to: Sell Nifty 24 Sept 2020 expiry 11200 Put option around 120-133 - pattern gets invalidated if Nifty is unable to hold on to 11360-11175 levels Risk:: Reward ratio looks favorable to...

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Nifty CMP 11481 - 11420 -11440 is an important support level - 11540 -11560 is an important resistance Given the set up Strategy for 27 Aug expiry Sell 27 Aug 11400 Put option around 26-30 & Sell 11550 Call Option around 20 Max profit if Nifty closes any where between 11400 -11550 Loss in strategy if Nifty closes below 11354 or above 11596 Take care &...

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Nifty CMP 11417 Nifty has given a bounce back - on charts it has come near resistance line Given the set up consider selling Nifty 27 Aug expiry 11500 Call option in the range of 50- 64 CMP 51 The strategy covers risk for a rise in price up to 11550-11564 Take care & safe trading...!!! Discliamer : - The view expressed here is my personal view - Use this...