Nifty & Bank Nifty Trading Strategy as on 16 May’13

Nifty as on 15 May’13– 6146.75 (+151.35)     Bank Nifty as on 15 May’13 – 13077.90 (+494.30)

Nifty & Bank Nifty riding on a Black Horse….

What a dramatic reversal, till yesterday it was appearing that Bulls has given up and suddenly, all myths were broken, and Bulls again cheered.

Let me admit, on Saturday I was sure that Nifty has potential to go higher, so the Bank Nifty also, but on Monday market moved exactly opposite and gave big red candle. After looking at such big red candle, genuinely my confidence was broken, but I stick to my technical rules and asked to wait for one weaker close, but on Tuesday market has not given any confirmatory action, so it proved that still we can hope something. And yesterday i.e. Wednesday market moved again sharply higher.

I am happy that my analysis proved me right this time. If you want, you can check my last posts.

Nifty & Bank Nifty Trading Strategy as on 15 May’13
Nifty & Bank Nifty Trading Strategy as on 14 May’13
Nifty Technical Analysis as on 13 May’13
Bank Nifty Technical Outlook for 13th May’13

Nifty Trading Strategy

As Nifty moved sharply higher and loss making strategy of Nifty Long Strangle again turned in profit. Traders may hold this strategy, and book profit once strategy turns in profit of Rs.40-45.  Risk takers can hold position.

Nifty Long Strangle

Strike Price

Options

Recomm

LTP

Profit

6200

CE

50.15

64.9

5900

PE

25.25

19.65

75.4

84.55

9.15

Bank Nifty Trading Strategy

Suggested Bank Nifty Long Straddle strategy is running in to profits of Rs.25/- . Traders may book position once strategy gives Rs.50-60. Risk takers can hold position with cost price as stop.

Bank Nifty Long Straddle

Strike Price

Options

Recomm

Lot Size

Profit/Loss

12800

CE

256

401

12800

PE

277

157.4

533

558.4

25.4

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