Monthly chart reading shows a resistance near to 5380-5400,there is eight day's of trading left in this contract,so a break out of this levels with better global clues can take market to 5520 ,if market couldn't hold then we can see levels of 5200-5250 levels before expiry.NIFTY can take in a tight 120-170 levels till this expiry if it didn't breakout.Worst case scenario it can move to 5050 levels towards downside.(UNEXPECTED BAD GLOBAL NEWS ONLY will trigger this)
STRATEGY TO TRADE
Because of shorter trading day left in this contract go for a LONG STRADDLE (BUY A CALL AND PUT OF SAME STRIKE PRICE )(Unlimited profit minimum risk )
Total spend has to be maximum of 75 (ie,75*50=3750),but this has to be done wisely ,till end of Tuesday's trading we must have two position standing).TARGET of position combined is 145.
STOP LOSS for combined position is 25
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