Today, our focus is on the NIFTY index. Here's the breakdown:
📈 Upward Movement: The index has been on an upward trajectory, recently approaching the 200-day moving average.
🚨 Near Resistance: However, it's currently near a significant resistance level, suggesting potential selling pressure.
💡 Short Selling Opportunity: I'm eyeing a short opportunity in the range of 19,500 to 19,800 for this index.
📉 Option Buying Strategy: For option buyers, consider 19,800PE or 20,000PE strike prices to capitalize on a potential downward move.
📆 Timing: This bearish outlook is anticipated to unfold in the coming days.
📌 Important Note: Trading involves risks. Make sure to conduct your analysis and manage your risk accordingly.
🤔 Your Strategy: What's your take on the Nifty 50 index? Are you aligning with this short opportunity, or do you have a different perspective? Share your insights!
👋 Until Next Time: Thank you for tuning in. Goodbye for now, and see you in the next post.
Best regards, Alpha Trading Station
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Entered in 20000PE
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Reversal Pattern Spotted
Traders, a significant development in Nifty 50 has caught my attention, signaling a potential reversal.
🔄 Reversal Signal: The chart is displaying a convincing reversal pattern, indicating a shift in the current trend.
🚨 Key Levels: The pattern is aligned with key resistance levels, reinforcing the potential strength of this reversal.
📈 Option Strategy: For those inclined towards options, exploring 20,00PE or 20,500PE strike prices could be a strategic move.
📆 Stay Tuned: I'll keep you updated on the progress and any adjustments to the strategy.