April 25, 2018

Nifty Outlook and Trading Strategy Near April 2018 Expiry

Nifty opened almost flat at 10578 and traded with positive bias for rest of the day. Nifty traded in 10569-10636 range and closed 29 points up at 10614.

Yesterday, short term outlook was bullish with 10509-10409 as short term support range with the possibility of decline towards this support range.

Trading strategy was to buy Nifty calls of May Expiry if get in 10509-10409 range or Buy Nifty for Intraday if “breaks above 10591 without breaking below 10568” with stoploss of 10567. Nifty breaks above 10591 and then bounced further to register day’s high 10636 without breaking below 10568, trade gave 40-45 points profit. Now, let’s have a fresh look at latest charts for further scenario.

Read more at http://sweeglu.com/nifty-outlook-and-trading-strategy-near-april-2018-expiry/

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