MINDTREE STRANGLE STRATEGY BOOK PROFIT
PROFIT OF 33600
Lackluster trading session has ended on positive note global cues as political uncertainty in the US and worries about weakening global economic growth weighed on investor sentiment. . Nifty ended the day on a positive note, but ended the session below 10850. At the close of market hours, the Sensex was up 86 points at 36195, and the Nifty up 18 points at 10849. Some more choppiness could be witnessed in the upcoming session. The recent swing low of 10798 levels could help bears to rule. Now 10750 levels has become an impotent level for nifty.
Only above 10850 levels could help bulls to comeback in the ground. Traders should trade with proper strategy in such scenario. It looks prudent for traders to avoid short-term bets and focus on any breach of larger trend, which may chalk out the future course of action for the indices. The 10750 level still looks like a sacrosanct support, a breach of which shall take the Nifty future below the 10700 level. A decisive close above the 10+00 level should usher in a sustainable uptrend.
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Resistance: 10875, 10900, 10950
Support: 10750, 10725, 10700
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