NIFTY shed 0.5% and closed at 17629.80 on 22nd Sep. The index witnessed selling pressure on the weekly expiry day. The down move happened on the back of addition of Fresh Shorts in its FUTS and significant call writing at 17700 and beyond strikes. We expect the Nifty to find resistance at 17800 and trade with negative bias in the short term thus suggesting selling CE as per the given levels.
Strategy:- SELL NIFTY 29 SEP 18100 CE @38-40, STOP LOSS 60, TARGET 5.
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