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Nifty chart view & strategy for 28 May 2020 expiry

已更新

Nifty
Closing price 9066

Observation
- Nifty is trading in downtrend channel
- Important levels on the upside are 9105 / 9136 / 9158
- Important levels on the lower side 9044 / 9023 / 8996 / 8941

From positional point of view there is a possibility of Nifty heading towards 9266 / 9320 levels by month end.

Given the view, we would be considering to sell 28 May 9000 Put option in the range of 125-140

Max profit potential Rs 10500/- per lot

Take care & safe trading...!!!

交易开始

We laid out our trading plan well in advance.

Nifty 28 May 2020 Put option opened at 117.55 & made a high of 129.50 ( giving us opportunity to sell in our range of 125-140)

Cmp 85.

Current profitability 75*( 125-85)= Rs 3000/- per lot.

That's the confidence that analysis can give you. When markets open, it is just execution time without any confusion.

交易手动结束

Nifty 9000 Put update
cmp 103

despite world mkts down our mkt has done well to stay atop.

Nifty futures ATP for yesterday is 9107.

Might be difficult to get past today.

Hence Consider booking profits. We look to re-enter on Monday

Have gone short in LIC HSG FIN counter

Take care & Safe trading!!!

注释

Nifty spot chart

注释

Despite other Asian mkts down big time

- Hangseng down 1350 points
- Taiwan almost 200 points down,

Nifty was able to defend 8941 (low of 8968) today mentioned above as support & closed between 9023-9044 again levels mentioned as support. So the structure to test 9266-9320 still remains intact.

Monday being holiday, we enjoy the long weekend and trade fresh from Tuesday

注释

Just to update LIC Hsg Finance. This was the substitute trade we suggested for the day...

Despite stock being up when recommended to go short, despite RBI Policy news that was to be announced, we ignored the News & simply followed the charts.