nifty 17-03-2022
#NIFTY50
We are going to see gap up today and gap is huge . Nifty is going to key resistance 17000 today with gap up.
As harmonic traders , reversal trade is easy to find , for intraday , if nifty is testing 17300 -17250 we can short nifty with SL 17330 .
I wouldnt recommend to buy PE (option) today due to expiry , i would suggest Sell 17300 CE at opening and hedge with 17000 pe or 16900 pe . High probability that both will become zero today
I would not go for any postional trade in index as at this point risk is very high at buy side , since nifty has static resistance for every 100 points ,
For intraday sell the range first , directional trade is not possible today
We are going to see gap up today and gap is huge . Nifty is going to key resistance 17000 today with gap up.
As harmonic traders , reversal trade is easy to find , for intraday , if nifty is testing 17300 -17250 we can short nifty with SL 17330 .
I wouldnt recommend to buy PE (option) today due to expiry , i would suggest Sell 17300 CE at opening and hedge with 17000 pe or 16900 pe . High probability that both will become zero today
I would not go for any postional trade in index as at this point risk is very high at buy side , since nifty has static resistance for every 100 points ,
For intraday sell the range first , directional trade is not possible today
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