Nifty: 12th August Weekly expiry view
Nifty
Observations
- Nifty managed to close in the green; however Index Futures OI reduced by 3.62%
- if Nifty trades below 16325 then it would form lower top - lower bottom in ultra short term and could increase probability of short term down trend
- however given it is weekly expiry day, an extension in morning trade towards 15340 / 15359 can not be ruled out.
Chart and data analysis suggest, it could be day of testing patience and nerves where it could boil down to last 1 hour of trade
Important levels on the upside 16320 / 16359 / 16420
Important levels on the downside 16218 / 16194/ 16140
Take care & safe trading...!!!
Let me go by Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Data is dynamic and can change in no time
- 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
Observations
- Nifty managed to close in the green; however Index Futures OI reduced by 3.62%
- if Nifty trades below 16325 then it would form lower top - lower bottom in ultra short term and could increase probability of short term down trend
- however given it is weekly expiry day, an extension in morning trade towards 15340 / 15359 can not be ruled out.
Chart and data analysis suggest, it could be day of testing patience and nerves where it could boil down to last 1 hour of trade
Important levels on the upside 16320 / 16359 / 16420
Important levels on the downside 16218 / 16194/ 16140
Take care & safe trading...!!!
Let me go by Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Data is dynamic and can change in no time
- 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
As suggested Nifty has done a 16359 in 1st half of the day...
Strategy suggested
Consider selling 26 August expiry 16500 Call option currently around 70
Strategy gives protection for a rise in Nifty price up to 16570
Take care & safe trading...!!!