Nifty strategy for 2nd MAY
For Educational purpose only,
On Friday, the market was bullish & have given a breakout of 18000 level (major resistance). After that the market has made a big green candle showing the bullish momentum. Tomorrow between the levels of 18070 & 17980, market will be sideways to buy on dip AND between the levels of 17980 & 17888 there will be no trading zone, shorting can only be done after the breakdown of 17888 level.
Market opening near 18550;
1. If dow futures are -ve & falling and there is higher call writing in the zones of 18050 & 18000 then the levels of 17980 & 17888 can be tested.
2. If dow futures are +ve & rising and there is higher put writng in the zones of 18100 & 18150 then the levels of 18120 & 18161 can be tested.
Breakout of 18070 level;
If dow futures are +ve & rising and there is higher put writng in the zones of 18100 & 18200 then the levels of 18161 & 18253 can be tested.
Breakdown of 17888 level;
If dow futures are -ve & falling and there is higher call writing in the zones of 17850 & 17800 then the levels of 17840 & 17800 can be tested.
On Friday, the market was bullish & have given a breakout of 18000 level (major resistance). After that the market has made a big green candle showing the bullish momentum. Tomorrow between the levels of 18070 & 17980, market will be sideways to buy on dip AND between the levels of 17980 & 17888 there will be no trading zone, shorting can only be done after the breakdown of 17888 level.
Market opening near 18550;
1. If dow futures are -ve & falling and there is higher call writing in the zones of 18050 & 18000 then the levels of 17980 & 17888 can be tested.
2. If dow futures are +ve & rising and there is higher put writng in the zones of 18100 & 18150 then the levels of 18120 & 18161 can be tested.
Breakout of 18070 level;
If dow futures are +ve & rising and there is higher put writng in the zones of 18100 & 18200 then the levels of 18161 & 18253 can be tested.
Breakdown of 17888 level;
If dow futures are -ve & falling and there is higher call writing in the zones of 17850 & 17800 then the levels of 17840 & 17800 can be tested.
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