Bank Nifty: Chart set u p & strategy for 30 July 2020
Bank Nifty
Closing Price 20359
- Bank Nifty is trading at the lower end of the range
- in line with my Nifty view which we suggested a range bound activity
- Bank Nifty would also likely reflect a possible range bound activity
- Weakness would intensify only once it closes below the Black line
- Sustaining above 22500 for 3 consecutive days would open up doors for further up movement
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Given the chart set up one may consider selling Bank Nifty 30 July 23000 Call option ( CMP 423.5) on rise especially towards the range of 500-550
Max profit potential Rs 12500/- to 13750/- per lot
Yield potential 11.26% - 12.4% approximately
Loss protection for a rise up to 23500 - 23550 till 30 July 2020.
However as suggested above, we would recommend to exit if Bank Nifty sustains above 22500 levels
Discliamer:
- The view expressed here is my personal view
- 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
- F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
Closing Price 20359
- Bank Nifty is trading at the lower end of the range
- in line with my Nifty view which we suggested a range bound activity
- Bank Nifty would also likely reflect a possible range bound activity
- Weakness would intensify only once it closes below the Black line
- Sustaining above 22500 for 3 consecutive days would open up doors for further up movement
______________________________________________________________________________________________
Given the chart set up one may consider selling Bank Nifty 30 July 23000 Call option ( CMP 423.5) on rise especially towards the range of 500-550
Max profit potential Rs 12500/- to 13750/- per lot
Yield potential 11.26% - 12.4% approximately
Loss protection for a rise up to 23500 - 23550 till 30 July 2020.
However as suggested above, we would recommend to exit if Bank Nifty sustains above 22500 levels
Discliamer:
- The view expressed here is my personal view
- 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
- F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
Trade active:
23000 Call option high made so far 502
