We had given a view on 1st Jan. This is in continuation of that view...
Nifty 13800 Put short Update
Suggested sell between 60-80
CMP 16
The position is active and is in profit.
Looking at the Options trade Data for January 01, 2021, - Retail participants are looking more optimistic and - FIIs and Proprietary traders are going preservative (message in private to know more)
One may Consider adding a sell Call position Strike Price : 14200 Call Option CMP 46
The strategy is best suited for a range bound movement.
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
Rather than looking at specific target numbers, of all, you know very well, I am more interested in managing situations and being profitable in different case scenarios...
That's precisely the reason why I prefer Option strategies over Futures trade. Yes profits are limited but, I don't have to worry about specific numbers to be profitable.
Also, this is a follow up idea, as suggested in the Headline.
For more details, you need to check my previous post. Link for the same is provided in Related ideas.
I have mentioned that yellow trendline and green trendline would likely provide support
Again specific Levels are also mentioned in the 01 Jan Post
Important levels for January 01 , 2021
Important support levels : 13935 / 13904 / 13882 / 13829
Important levels on the upside : 14036 / 14063 / 14085 / 14129
More so, here too, I have clearly mentioned my best case scenario is a range bound set up that I am looking at...
How much more clear you want me to be...?
Read both the ideas and then co-relate and I am sure you would get the whole picture