Nifty - RBI Policy Meet on 28Sept- 30 Sept 2022 - Result season is about to begin
and Nifty is near 240 day EMA
Important Fibonacci level that may provide Support 61.8% retracement 16293 76.4% retracement 15868
Important Resistance zone 17166-17320 zone 17758-17820 zone
Given the set up one may consider to go for a Short Strangle strategy in Nifty for Oct series
Sell 15800 Put option and Sell 17800 Call Option
The strategy has a profit potential of 10% and gives a protection - for a fall up to 15620 odd levels on the downside - for a rise up to 17980 odd levels in the up side
That's a protection of approximately 1200 points on either side from current levels. However do understand that trading in F&O involves risk. Read the disclaimer carefully.
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Take care & safe trading...!!!
Disclaimer - The view expressed here is my personal view - Past performance is not a guarantee for future predictions - I have been wrong in the past and can be wrong again in future too - Use this for educational purpose - 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
Komen
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Short strangle strategy update
Net receivable 181 points CMP (36+28) = 64 points Profit of 181-64 = 117 points so far