NIFTY formed multiple reversal signals and is now showing signs of weakness after rejecting near 24,825. Volume is high at the top zone, indicating possible distribution.
Current price : 24,789
Expected move: Pullback towards 24,727 and possibly to 24,631 (strong support)
If price holds at 24,631, potential bounce is expected.
Trade Plan :
Entry (Short):...
The image displays an ongoing intraday trading position in NIFTY50 options. Here's a quick analysis:
1. Instrument: You are trading a NIFTY 50 put option with a strike price of 24,250, expiring on November 28, 2024 (NIFTY241128P24250).
2. Price Levels:
Current price: ₹138.95
Entry price: Likely around ₹127.20, as indicated on the chart.
Target: ₹205.00 (green...
