one of the most commonsensical approaches towards market analysis is to look at a slightly bigger picture and then drill down to a lower time frame
on a weekly time frame, we can see Nifty has strong support at 15430 lvl and in a daily time frame we see a supply zone starting 15830 lvls
Now with these two important lvls we may think of possibilities that can happen
scenario A - Nifty trades between 15430 & 15830 for this expiry. higher chances of this happening
some ways to trade could be - waiting for levels and taking CE or PE accordingly, selling PE / CE ATM level and exiting one side when it reaches boundary lvls
scenario B - Nifty breaks these lvls this week. Highly unlikely but you never know
some ways to trade could be - if the ATH(all time high) is broken, nifty will fly till it makes a new supply zone. so naked CE should work. if it breaks lower level of 15430, don't rush on PE side immediately, wait for -retesting of 15430 lvl . Most of the Longs will have Stop losses will be around 15390-15400 lvls, so expect volatility at those levels.
Trade Safe
on a weekly time frame, we can see Nifty has strong support at 15430 lvl and in a daily time frame we see a supply zone starting 15830 lvls
Now with these two important lvls we may think of possibilities that can happen
scenario A - Nifty trades between 15430 & 15830 for this expiry. higher chances of this happening
some ways to trade could be - waiting for levels and taking CE or PE accordingly, selling PE / CE ATM level and exiting one side when it reaches boundary lvls
scenario B - Nifty breaks these lvls this week. Highly unlikely but you never know
some ways to trade could be - if the ATH(all time high) is broken, nifty will fly till it makes a new supply zone. so naked CE should work. if it breaks lower level of 15430, don't rush on PE side immediately, wait for -retesting of 15430 lvl . Most of the Longs will have Stop losses will be around 15390-15400 lvls, so expect volatility at those levels.
Trade Safe