Nifty is moving strongly toward its 52-week high zone. A clean breakout can provide a high-probability long opportunity.
Conditions
1) If a 5-minute or 15-minute candle closes above 26,250 (Nifty’s all-time high), we can consider initiating long positions.
2) As long as price holds above today’s bullish candle mid-point, avoid looking for shorts.
3) Structure remains bullish as long as higher levels sustain.
Market Psychology
Everyone, especially retail traders, expecting the market to break the 52-week high and good trend, so smart money will make it difficult for them to profit. (by keeping market sideways)
Retail traders often lose money due to theta decay when buying OTM options during breakout conditions.
Strategy Suggestions
Consider selling PE options to benefit from time decay.
Or, trade the direction directly by buying ITM Call options with a proper stop-loss.
Do not protect your ego. Protect your capital.
Conditions
1) If a 5-minute or 15-minute candle closes above 26,250 (Nifty’s all-time high), we can consider initiating long positions.
2) As long as price holds above today’s bullish candle mid-point, avoid looking for shorts.
3) Structure remains bullish as long as higher levels sustain.
Market Psychology
Everyone, especially retail traders, expecting the market to break the 52-week high and good trend, so smart money will make it difficult for them to profit. (by keeping market sideways)
Retail traders often lose money due to theta decay when buying OTM options during breakout conditions.
Strategy Suggestions
Consider selling PE options to benefit from time decay.
Or, trade the direction directly by buying ITM Call options with a proper stop-loss.
Do not protect your ego. Protect your capital.
Note
As Expected smart money investor keeping market sideways.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.