Nifty Short Strangle - Dec 19th Expiry
Diupdate
This week’s Thursday (Dec 19th, 2024) marks the weekly options expiry. Analyzing the chart, we observe an ascending channel and a descending trendline converging at significant levels for the expiry date.
If Nifty respects the above trend-lines, then on expiry day, Nifty will be trading between 24100 and 25400.
Short Strangle with 24100 PE and 25400 CE could be used to trade this strategy.
Risky S&R to watch:
The ascending channel’s lower trend-line intersects 24450 on Dec 19th, but this represents a risky support level. And 25000 is a risky resistance level to watch. We suggest not to trade these two levels as they are too risky.
- The ascending channel’s upper trendline intersects 25400 on Dec 19th.
- The descending trend-line intersects 24100 on the same date.
If Nifty respects the above trend-lines, then on expiry day, Nifty will be trading between 24100 and 25400.
Short Strangle with 24100 PE and 25400 CE could be used to trade this strategy.
Risky S&R to watch:
The ascending channel’s lower trend-line intersects 24450 on Dec 19th, but this represents a risky support level. And 25000 is a risky resistance level to watch. We suggest not to trade these two levels as they are too risky.
Trading ditutup secara manual
Post-Trade Analysis: Due to Fed rate cut decisions, US markets fell sharply that led to an unexpected gap down in Indian markets on expiry day. Nifty broke 24100 Support and closed at 23951.7
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