- Major Resistance around 500 zone - Major Line of Support at 376
- Minor Resistance around 462 odd levels - Minor Support around 418 odd levels ________________________________________________________________________________________________________________
Given the set up, my trading strategy: Short Strangle for April series
Sell 28 April 2022
510 Call Option & 380 Put option
Various situations have been taken care of... Strategy has a 9% ROI potential on margin requirement, giving a decent return potential as well as covers risk for a rise up to 518.65 odd levels on the upside and 371.35 odd levels on the downside.
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Take care & safe trading...!!!
Disclaimer - The view expressed here is my personal view - Past performance is not a guarantee for future predictions - Use this for educational purpose - Any decision you take, you need to take responsibility for the same - It's your hard earned money. Treat it wisely - Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance - if trading in F&O, understand that F&O trading involves risk - Do take proper risk management measures - Do your own analysis and consult your financial adviser if need be