Nifty Intraday Trade Setup | 29th November 2021

28 בנוב׳ 2021

Nifty opened with a big gap-down due to Covid new variant news and all global markets fall sharply down. We saw selling all day and Nifty closed more than 500 points down around near day low.

Trades we took Today:

> Bought Nifty 17200 CE at 200 which we booked with 20 points loss
> Bought Nifty 17400 PE at 200 which made a high above 400 and Traders booked great profit in this Trade
> Bought Nifty 17100 CE at 190 which we booked with 20 points loss
> Bought Nifty 17200 PE at 170 which we booked with 25 points loss
> Bought Nifty 17100 CE at 180 which we booked with 30 points loss

Overall, not a good day for Nifty Option Buyers.

SGX Nifty indicates a big gap-down opening for tomorrow, Nifty is highly oversold hence be cautious selling at lower levels as we can see a short-covering bounce.

Expectations for Tomorrow: Volatile day.

Intraday Levels:
Buy Above - 17100
Sell Below - 16980

To motivate me, Please like the idea If you agree with the analysis.

Happy Trading!
InvestPro India Team