Nifty has taken resistance today at 61.8% retracement level
Going forward important support and resistance level for Nifty
Resistance: 17320 / 17440 / 17620 / 17735
Support: 17051 / 16960 / 16820 / 16705
Suggested trading strategy
Given the set up, One may consider selling Nifty 31 Mar expiry 17700 Call option and 16700 Put option simultaneously.
This Short Strangle Strategy has 11% yield potential till 31 Mar expiry
Importantly, the strategy has Loss protection for a fall up to 16473 on the downside and on the upside for a rise up to 17927
Take care & safe trading....!!!
Disclaimer - The view expressed here is my personal view - Past performance is not a guarantee for future predictions - Use this for educational purpose - Any decision you take, you need to take responsibility for the same - It's your hard earned money. Treat it wisely - Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance - if trading in F&O, understand that F&O trading involves risk - Do take proper risk management measures - Do your own analysis and consult your financial adviser if need be
تعليق
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Nifty resistance given 17320 / 17440
Yesterday close 17315 and today's high so far 17442
Strategy update Net receivables when initiated: 227 Points CMP= 82 + 82 = 164
Net (227-164) = 63 points per strategy lot in profit so far...
تعليق
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Strategy update Net receivables when trade was initiated: 227 Points CMP= 33 + 42 = 164
Net (227-75) = 152 points (Rs 7600 per lot) per strategy lot in profit so far...