Nifty50 has strong support at 15750, and it looks to respect it. We can look forward to a reversal in Nifty 50 from this point onwards if no bad news flow comes into the picture.
So until Nifty stays above 15750, we can expect bulls to arrive into the market. If Nifty has a significant-close below the lower trendline we can expect further bearishness. So it is a good idea to deploy Long Iron Condor Strategy with 10 Days To Expiry.
DYOR Before Trading/Investing. Not Responsible for P&L. Only for educational purposes.
Option Trade Idea:
+1x 26MAY2022 15750CE @ ₹ 300.55
-1x 26MAY2022 16500CE @ ₹ 35.25
+1x 26MAY2022 15750PE @ ₹ 205.1
-1x 26MAY2022 15300PE @ ₹ 80.5
Max. Profit @ ₹ 18,005 (56.82%)
Max. Loss @ ₹ 19,495 (-61.53%)
Probability of Profit 53.9%
Estimated Margin/Premium ₹ 31,685
Breakeven @ 15361.0-16139.0
So until Nifty stays above 15750, we can expect bulls to arrive into the market. If Nifty has a significant-close below the lower trendline we can expect further bearishness. So it is a good idea to deploy Long Iron Condor Strategy with 10 Days To Expiry.
DYOR Before Trading/Investing. Not Responsible for P&L. Only for educational purposes.
Option Trade Idea:
+1x 26MAY2022 15750CE @ ₹ 300.55
-1x 26MAY2022 16500CE @ ₹ 35.25
+1x 26MAY2022 15750PE @ ₹ 205.1
-1x 26MAY2022 15300PE @ ₹ 80.5
Max. Profit @ ₹ 18,005 (56.82%)
Max. Loss @ ₹ 19,495 (-61.53%)
Probability of Profit 53.9%
Estimated Margin/Premium ₹ 31,685
Breakeven @ 15361.0-16139.0