Nifty: At important support levels
- Nifty near its March bottom
- if holds on to 15680-15720 zone then it could be a case of Double bottom
- Target could be retest of 20 day EMA / 50 day EMA / 200 day EMA ( use charts to keep track of these levels as it changes with every trade day)
- trend line resistance around 16680 / 16800
Risk factor
- we see 50 day EMA crossing below 200 day EMA which is also referred as Death Cross
Can Nifty stage a comeback...?
or
are the Bulls down and out...?
Only time will tell...
Important levels have been given and different scenarios have been considered....
Given the set up,
My Trading strategy: Gone with a 26 May expiry 15300 Put short @ 107
- Strategy has a 9% profit potential on margin requirement
- it also gives protection for a fall up to 15193 till May expiry
Will consider to Exit / Review if Nifty closing is below 15680.
Take care...!!!
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
- if holds on to 15680-15720 zone then it could be a case of Double bottom
- Target could be retest of 20 day EMA / 50 day EMA / 200 day EMA ( use charts to keep track of these levels as it changes with every trade day)
- trend line resistance around 16680 / 16800
Risk factor
- we see 50 day EMA crossing below 200 day EMA which is also referred as Death Cross
Can Nifty stage a comeback...?
or
are the Bulls down and out...?
Only time will tell...
Important levels have been given and different scenarios have been considered....
Given the set up,
My Trading strategy: Gone with a 26 May expiry 15300 Put short @ 107
- Strategy has a 9% profit potential on margin requirement
- it also gives protection for a fall up to 15193 till May expiry
Will consider to Exit / Review if Nifty closing is below 15680.
Take care...!!!
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
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