PCR shows negative data, market is on sale on rise. MACD also given negative crossover,,all the parameter shows negative impact on market. So sale banknifty from this level right now trading at 40584,,keep stop loss at 40775 and go for targets 40400/40300/40200-. Take trade with stop loss only. Chances are high banknifty will fall from these levels.
For hero zero trade. (i have two trade one is naked option buying and another one is option writing with hedge.)
For naked option:-
buy 40400 put option now trading at 21. and targets will be 50/125/175+, stop loss zero.
Option writing:-
sale 40400 Call option now trading at 213, Stop loss 325
and buy 30700 call option trading at 28 Stop loss 0
This is hero zero trade so trade according to your risk and reward. do not enter in bulk order. Trade with stop loss. Happy trading.
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