Nifty During Week 03 of May 2020

Strategy for NIFTY:

Nifty traded downward.

WATCH & STRIKE PLAY

1. Now our trade will be on downside with Stop Loss 9000.
2. Our trade will be not meant for expiry. 
3. On any bounce back towards 9000, we will buy 8500 PUT of 25 June expiry.
4. Here we will only play the volatility while keeping a watch on VIX.

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SLICING PLAY

Another short term trade of 10-20 points:
Time : 13:12 am                                Date: 18/05/2020
European Market : positive

Nifty gets support at 8880.
Buy May 9000 CE at 170
Target 182 -185

Book Profit at  Nifty SPOT 8910-20
Stop Loss at Nifty SPOT 8840 {To be executed after  3 pm}
Target once hit
Risk:Reward    1:1

Time frame: Maximum Tomorrow Opening

RESULT: TRADE SUCCESS
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REVIEW DAY 01

NIFTY range for this week 8800 - 9200

NIFTY range for this month 8500 - 9500

WATCH & STRIKE PLAY  changed. Bounce back till 9200, where again we will review. In between, we will look for SLICING PLAY.

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NIFTY RANGE 8850 - 8960

1. STRIKE NEAR THE LEVEL FOR MINIMUM RISK
2. IT BROKE 8960. SINCE NIFTY TREND IS DOWNWARD, WE WILL WAIT FOR NIFTY TO TOP OUT.
3. IT SEEMS, THE HIGHER RANGE SHIFTED TO 9020.

NOW SHORT TERM NIFTY RANGE 8850 - 9020

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