NIFTY SYMMETRICAL TRIANGLE WITH OPTIONS TRADING STRATEGIES
Updated
Nifty Symmetrical TriangleAfter being stuck in a range this week, the Index is expected to be directional next week.
Tomorrow's Range: 17,000 - 17,300
Bullish: >17,300
Bearish: < 17,000
Long Strangles recommended for 5/5 Expiry
Note
Nifty opened at upper resistance line of the symmetrical triangle. Forward Projections:
1) IF Nifty closes above 17,380 today, Target is 17,850
(Big IF)
2) Else double-top in hourly chart comparing the 21/4 and 29/4 highs.
Target 16,800.
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