NIFTY BREAKING 7 DAYS LOWER HIGH

9. Juni 2023

As discussed yesterday nifty should hold yesterdays lower high . Today it had broken lower high and approaching support at uptrend green line. As per risk management long in nifty should be covered . Since Uptrend Line support is only 100 points, Also said Nifty could trade side ways from 18450 to 18700/800. this make nifty as no trade zone. in this market one can short nifty 1 lot and short put 1 lot and short call 1 lot. If nifty remains side ways you will eat up premium and nifty will be in marginal profit/loss ( Selling nifty is used for hedge) . Point to sell nifty is if in any extreme case market will come down, here nifty short position will protect you. Profit can be booked if you are getting 3% on Investment . Total investment will be around 2L
This is advice only and trade should be taken on personal financial adviser advice.