Greetings, fellow traders!
Today, our focus is on the
NIFTY
index. Here's the breakdown:
π Upward Movement: The index has been on an upward trajectory, recently approaching the 200-day moving average.
π¨ Near Resistance: However, it's currently near a significant resistance level, suggesting potential selling pressure.
π‘ Short Selling Opportunity: I'm eyeing a short opportunity in the range of 19,500 to 19,800 for this index.
π Option Buying Strategy: For option buyers, consider 19,800PE or 20,000PE strike prices to capitalize on a potential downward move.
π Timing: This bearish outlook is anticipated to unfold in the coming days.
π Important Note: Trading involves risks. Make sure to conduct your analysis and manage your risk accordingly.
π€ Your Strategy: What's your take on the Nifty 50 index? Are you aligning with this short opportunity, or do you have a different perspective? Share your insights!
π Until Next Time: Thank you for tuning in. Goodbye for now, and see you in the next post.
Best regards,
Alpha Trading Station
Today, our focus is on the
π Upward Movement: The index has been on an upward trajectory, recently approaching the 200-day moving average.
π¨ Near Resistance: However, it's currently near a significant resistance level, suggesting potential selling pressure.
π‘ Short Selling Opportunity: I'm eyeing a short opportunity in the range of 19,500 to 19,800 for this index.
π Option Buying Strategy: For option buyers, consider 19,800PE or 20,000PE strike prices to capitalize on a potential downward move.
π Timing: This bearish outlook is anticipated to unfold in the coming days.
π Important Note: Trading involves risks. Make sure to conduct your analysis and manage your risk accordingly.
π€ Your Strategy: What's your take on the Nifty 50 index? Are you aligning with this short opportunity, or do you have a different perspective? Share your insights!
π Until Next Time: Thank you for tuning in. Goodbye for now, and see you in the next post.
Best regards,
Alpha Trading Station
Trade active:
Entered in 20000PE
Traders, a significant development in Nifty 50 has caught my attention, signaling a potential reversal.
π Reversal Signal: The chart is displaying a convincing reversal pattern, indicating a shift in the current trend.
π¨ Key Levels: The pattern is aligned with key resistance levels, reinforcing the potential strength of this reversal.
π Option Strategy: For those inclined towards options, exploring 20,00PE or 20,500PE strike prices could be a strategic move.
π Stay Tuned: I'll keep you updated on the progress and any adjustments to the strategy.
Happy trading!