Nifty future continued its uptrend even after the financial budget was announced on 1 February 2023, traders will be looking for buying opportunities on nifty future or nifty call options in large quantities.
Another trading option can be to write a nifty put option and then keep holding it till the F&O expiry. For next week medium risk trade can be to short nifty put option or buy nifty out-of-money call options. We see the upside still open for next week as RBI will lower interest rates, at least 200 points move is possible in the nifty future. Also nifty future has seen the addition of 1.3 million shares in its open interest. On charts, there is no resistance for nifty future until it bounces 200 points. Maybe on next Monday, we will see consolidation which would be the right time for executing this strategy.
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