Trade setup for Nifty
Nifty has to sustain the level 13953 & 13930 to continue it's uptrend.
If it breaks expect Nifty to drop towards the level 13588-13696 level with aggression and heavy momentum. The fall will be with extreme volatility if it breaks.
Trade setup is as follows.
1) If Nifty rejects the 13950 level and takes support forming any bullish engulfing candles at this level go Long. and target for 14050 - 14090 - 14200 levels.
2) If Nifty breaks and close below 13950 level it's time to look for selling opportunities, do not initiate any fresh long positions. short Nifty if it breaks and rejects (13930-13953) level. Target for 13900-13862-13772-13664 levels
Expect Nifty futures to trade between 13100-14600 level
If you are selling calls to puts by deploying monthly strangle sell calls above 14600 and sell puts below 13100
If it breaks expect Nifty to drop towards the level 13588-13696 level with aggression and heavy momentum. The fall will be with extreme volatility if it breaks.
Trade setup is as follows.
1) If Nifty rejects the 13950 level and takes support forming any bullish engulfing candles at this level go Long. and target for 14050 - 14090 - 14200 levels.
2) If Nifty breaks and close below 13950 level it's time to look for selling opportunities, do not initiate any fresh long positions. short Nifty if it breaks and rejects (13930-13953) level. Target for 13900-13862-13772-13664 levels
Expect Nifty futures to trade between 13100-14600 level
If you are selling calls to puts by deploying monthly strangle sell calls above 14600 and sell puts below 13100
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