Nifty has remained range-bound over the past few sessions. Yesterday, Nifty traded between 24,511 and 24,620, making these levels important for Tuesday's expiry.
Bearish Setup:
If Nifty approaches 24,620–24,630 and forms a clear rejection candle, while a 15-minute candle fails to close above 24,630, a PE setup may be considered after confirmation.
Preferred: 1-strike ITM PE
Alternative: ATM PE
Possible targets: 24,600 - 24,570 - 24,540 and below
Bullish Setup:
If Nifty approaches 24,500–24,511 and forms a reversal candle, while a 15-minute candle holds above 24,500, a CE setup may be considered after confirmation.
Preferred: 1-strike ITM CE
Alternative: ATM CE
Possible targets: 24,540-24,560 -24,580
My View
I would consider 24,500–24,630 as the broader decision zone.
Above 24,630 with a sustained 15-minute close - bullish breakout possibility.
Below 24,500 with a sustained 15-minute close - bearish breakdown possibility.
Until then, rejection at resistance or reversal from support could provide the better risk-defined setups.
This post is for educational purposes only and is not financial advice. Options trading involves substantial risk.
Bearish Setup:
If Nifty approaches 24,620–24,630 and forms a clear rejection candle, while a 15-minute candle fails to close above 24,630, a PE setup may be considered after confirmation.
Preferred: 1-strike ITM PE
Alternative: ATM PE
Possible targets: 24,600 - 24,570 - 24,540 and below
Bullish Setup:
If Nifty approaches 24,500–24,511 and forms a reversal candle, while a 15-minute candle holds above 24,500, a CE setup may be considered after confirmation.
Preferred: 1-strike ITM CE
Alternative: ATM CE
Possible targets: 24,540-24,560 -24,580
My View
I would consider 24,500–24,630 as the broader decision zone.
Above 24,630 with a sustained 15-minute close - bullish breakout possibility.
Below 24,500 with a sustained 15-minute close - bearish breakdown possibility.
Until then, rejection at resistance or reversal from support could provide the better risk-defined setups.
This post is for educational purposes only and is not financial advice. Options trading involves substantial risk.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.