 "Nifty technical outlook: Here are key support & resistance levels to watch")
Recommended Nifty strategy:
- Strategy: Nifty Short Strangle
- Expiry: 5-Jun-2025
- Strike Prices: Sell 24,000 Put and Sell 25,500 Call
- Net Premium Inflow: 38 points
- Stop-loss: 75
- Target: Entire Premium Inflow
Rationale:
- Nifty is consolidating within a broad range of 24,500 and 25,100.
- Immediate key levels: Resistance near 25,100; Support at 24,450.
- Strategy View: With a likely trading range mentioned above for 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.
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