Nifty Positional Levels: Buy on Dips with Call Option Target of 18480 - 1st May 2023

Nifty Positional Levels: Buy on Dips with Call Option Target of 18480 - 1st May 2023

Introduction:

As the market trends up, Nifty traders can take advantage of buying on dips with call options. In this blog post, we'll mark out the intraday levels for future reference and discuss different market scenarios.

Nifty Intraday Levels:

Here are the intraday levels for Nifty:

18400

18320

18250

18200

18160

18100

Buy on Dips:

Any dip on 18000 or 17800 is an opportunity to buy call options for a target of 18480.

Market Scenarios:

There are different market scenarios to consider when trading Nifty:

Scenario 1: If the market opens gap up at 18180, then buy call options if the next up level, like 18200, breaks.

Scenario 2: If the market opens at 18145, then buy call options if the 18160 level breaks.

Rare Scenario: If the market opens flat or near 18000, then buy call options as the market is adopting a buy-on-dip strategy.

Reversal Trading:

If any level and candle of minimum become red, traders can play reversal and strictly set a stop loss on green levels. The following levels are good for reversal trading:

17940

17900

Conclusion:

In summary, Nifty traders can take advantage of the buy-on-dips strategy with call options. The intraday levels and different market scenarios provided can help traders make informed decisions.

Positional chart

5 Min Charts

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