As the Head and Shoulders target is clearly met and a retracement to 4160 to 4200 looks to be a possibility unless and until the 3800-3790 support is broken. Please note that this is not an intraday call.
The outlook of broader market and hence NIFTY is bearish.
Trading Idea:
The outlook of broader market and hence NIFTY is bearish.
Trading Idea:
I would prefer to hold the 3900 straddle and make an exit when NIFTY touches 4160-4200. I am planning to do the same.
After the exit, and WHEN NIFTY IS AT 4160, I would go for a 4200 Straddle. But not today. The reason being, we can avoid the decay of sat and Sunday.
After the exit, and WHEN NIFTY IS AT 4160, I would go for a 4200 Straddle. But not today. The reason being, we can avoid the decay of sat and Sunday.
EXIT 3900 Calll part of the Straddle and keeping the PUT part---10.15 AM
