Nifty may stay 23,700-24,600 range next week: What's best trading strategy?
Strategy View: With a likely trading range of 23,700-24,600 in the coming week, a Short Strangle strategy could be an effective way to capitalise on expected consolidation
 "Nifty may stay 23,700-24,600 range next week: What's best trading strategy?")
Recommended Strategy:
- Strategy: Nifty Short Strangle
- Expiry: 30- APR-2025
- Strike Prices: Sell 23,500 Put @30 and Sell 24,800 Call @30
- Net Premium Inflow: 60 points
- Stop Loss: 110
- Target: Entire Premium Inflow
Rationale:
- Short-term technical indicators are overbought.
- Also, the 24,550 zone aligns with the 61.8 per cent Fibonacci resistance—suggesting a possible hurdle.
- On the lower side, 23,800 now act as key support on a role-reversal basis.
- Strategy View: With a likely trading range of 23,700–24,600 in the coming week, a Short Strangle strategy could be an effective way to capitalise on expected consolidation.
- This strategy is profitable if the market remains in a tight range, benefiting from both volatility contraction and Theta decay.