Nifty 7 May 2021 Trade Setup
Nifty closed above the Bearish candle's high ( and that Bullish harami pattern ) confirming bullish reversal.
Target 1 which was set yesterday achieved.
If Nifty stays above the current level, target 2 : 14800 can be achieved easily
Call writers moved to 15000 safe level too.
Contrarion View : If Nifty reverses from this level, then major support is seen at 14500.
Happy Trading !!!
Note: 14500 monthly straddle status : 1.3% CE writers did unwind this level.
26.8 lakh CE Writers seen on 15000 level which is very bullish.
Target 1 which was set yesterday achieved.
If Nifty stays above the current level, target 2 : 14800 can be achieved easily
Call writers moved to 15000 safe level too.
Contrarion View : If Nifty reverses from this level, then major support is seen at 14500.
Happy Trading !!!
Note: 14500 monthly straddle status : 1.3% CE writers did unwind this level.
26.8 lakh CE Writers seen on 15000 level which is very bullish.
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