Nifty: Chart set up and trading strategy

Nifty is currently having support at 18400 odd levels
Nifty all time high is at 18604

Given the set up one may consider to a Short strangle strategy in weekly options

Dec 01 Expiry

Sell 18300 Put optoin
Sell 18650 Call option

Net receivables 68-70 points

Loss in trade if closing on Dec 01 is below 18232 or above 18718

Review points 18350 on the lower side and 18605 on the upside

It should give ample scope to adjust / exit.


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