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Anticipating Short-Covering: Nifty50 Spot Recovery Strategy

Long
Nifty 50 Index (NSE:NIFTY)  
IndexAce Updated   
NSE:NIFTY   Nifty 50 Index
Volatility Trend Analysis niftytradesetup nifty50 optionstrading
2
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volatility trendanalysis niftytradesetup nifty50 optionstrading
I anticipate a short-covering rally in the Nifty50 spot, expecting a recovery as long as the spot doesn't dip below 22323.60. I've taken a long position below 22442.20, with a strict stop loss set at 22323.60.
Trade active:
Bought 22300 Call Option (2nd May 2024 Expiry) @ 242.20
Comment:
Holding till expiry (2nd May 2024) Stoploss & Target Premium.
Trade closed: target reached:
Booked Profit from 22300 call option @ 381.00

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