Analyzing Nifty50 Spot's Triangle Pattern Breakout Trade Plan
Diupdate
Greetings fellow traders,
I've been closely monitoring the Nifty50 spot since April 25th and have observed a range-bound movement, forming what appears to be a triangle pattern. I anticipate a breakout from this pattern tomorrow, which could lead to significant moves in the market.
My trade plan revolves around this potential breakout. If Nifty50 breaks out tomorrow, my targets are set at T1 (22727.80) and T2 (22895.40). However, for the breakout to sustain above T1, my proprietary option pricing calculations indicate that the 22550 put option (2nd May expiration) should trade below 10.15 (today's closing price was 57.35).
Therefore, I'm planning to buy the 22550 put option above T1, with a stop loss set at 10.10 to manage risk effectively.
Let's stay tuned and execute this trade plan strategically.
I've been closely monitoring the Nifty50 spot since April 25th and have observed a range-bound movement, forming what appears to be a triangle pattern. I anticipate a breakout from this pattern tomorrow, which could lead to significant moves in the market.
My trade plan revolves around this potential breakout. If Nifty50 breaks out tomorrow, my targets are set at T1 (22727.80) and T2 (22895.40). However, for the breakout to sustain above T1, my proprietary option pricing calculations indicate that the 22550 put option (2nd May expiration) should trade below 10.15 (today's closing price was 57.35).
Therefore, I'm planning to buy the 22550 put option above T1, with a stop loss set at 10.10 to manage risk effectively.
Let's stay tuned and execute this trade plan strategically.
Trade aktif
Breakout from triangle pattern visible.Catatan
T1 - 22727.80 Done.Catatan
22550 Put trading below 10.15 today! Looks like 22550 is holding strong as support for today's expiry. Nifty spot currently at 22674.00. 📉💪Trading ditutup secara manual
It's currently 03:17 PM, and the 22550 Put option is trading at a negligible 0.10, indicating its worthlessness. This analysis wraps up here. Stay tuned for a fresh analysis next week! Make sure to follow for regular updates. 📈💼
Publikasi terkait
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.