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NIFTY OPTIONS TRADE

NIFTY is unlikely to cross 22,500 in near future so I would be selling 22,500 call for MARCH series at 270.
this is for monthly series.
frankly i dont think you have to buy any hedge for this trade.
On 28th MARCH this call should expire at 0.

see there is a risk in every trade.
Our job is to acknowledge the market direction and execute appropriate trades managing our RISK.

BEST WISHES for the month ahead.

for non directional traders who have decent pockets.
below strategy is for you

sell 22500 straddle for 25th APRIL expiry,
combined premium as of now is 534+478=1012 points this would secure zone of 21,500-23,500 risk free for you.
now because our overall view is BEARISH  we shall hedge this trade with 21500 put of same expiry at 161.
this shall protect your downsides also once 22000 breaks on APRIL FUTURES you would have to cover your put shorts.

feel free to connect with me regarding any doubts.

NIFTY EOD UPDATE FOR 28/02/2024

NIFTY broke below all key supports today.
So we do have REVERSAL signs in place.
As I posted earlier a daily close below 26th,FEBRUARY LOW would be a BEARISH sign on TIME FRONT.
now when we have got that so let’s see how things goes in next few days.

On NIFTY still downside move is not straight forward.
21,800-21,850 could still act as a near term support,
but once that also goes it’s all over because below 21,800 NIFTY could have a sharp fall towards the zone of 21,250-21,450 that too in a trending manner.

NIFTY BANK as we discussed in morning gave a print of 46,100 so setup for a waterfall decline has developed here.
Ideally it should move lower swiftly down and retest its JANUARY LOW of 44,429 as early as 8th,MARCH.

still watch out for SBI and RELIANCE a lower low below todays imtraday low would further intensify the momentum on downside.