Nifty Banknifty expiry day 12 May 2021 Strategy
From last few days nifty bank nifty moving in channel and in range, every dip is showing strength
What we can do,
My strategy is buy on dips near 14800/14780 12 may option 14800 ce for target of 14840/14880 and 14901 and 14960
2nd strategy if we open near 14840 strategy is buy 14900ce ( next expiry 20may) for target of 14901/14960
Today is high possibility to move towards 14960
Nifty from last 2 months making rangebound moves and shy at 15000,
Coming week we have early weekly expiry day due to holiday on 13th may
Today due to metal index and IT index at Nasdaq global market week sgxnifty is showing 14780,
As per charts one support at 14800/14770/14733
Buying on dips near 14770 for target 14850/930/15000 preferably in near by option or next week option 14800/900ce
Sectors = Metal and IT will be weak for the day
Bank Pharma bullish for week on dips
Stocks- SBI use dips to add for 366/371/376
LNT near 1380-77 for 1400/1414 risk 1%