- Nifty is still going up - however we see Nifty is struggling to keep up with the pace
- From 30 March 2020, we observe Nifty trading in blue channel - however since 30 March 2021 exactly after 1 year, we see Nifty struggling to stay in blue channel and subsequently it came to the midpoint of yellow channel
- currently it is at the crossroads and it looks likely it might shift to the yellow channel - the set up has potential target of 16800 over a few weeks
Given the set up one may consider to sell 30 Sept expiry 17500 Call option around 100 The strategy has a yield potential of 6.5% approximately and provides in built loss protection for a rise up to 17600 till expiry
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