Bank Nifty: Chart set up and trading strategy

업데이트됨

Bank Nifty

Observations
- we observe Bank Nifty trading in down trend channel
- Bullish Engulfing candlestick pattern seen in chart

Pattern gets invalidated if Bank Nifty closes below 30405

Given the set up, Strategy that may be considered

Consider selling Bank Nifty 27 May 2021 expiry
30000 Put option between 700-800 (Last traded Price 753)

The strategy has a return potential of Rs 17500- 20000 per lot

More importantly the strategy has inbuilt Stop loss protection up to 29300-29200 till 27 May which is roughly a protection of 2500 points from current levels

Take care & safe trading...!!!

Disclaimer:
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- 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

노트

Bank Nifty target of 33180 well achieved

Strategy update
Bank Nifty 27 May expiry 30000 Put option CMP 278

Trust the analysis was useful

Happy trading...!!!