Nifty Analysis for 28th Aug 2023 (today)

Nifty is at the NICE support zone, a Strong demand Zone for now. Nifty will get bullish from here. 

My entry will be a nice breakout of the given trendline, which will be after 19350. After that, Nifty might take a minor resistance in the range of 19560-19600.

I will play Put Selling because it might take resistance at 19560-19600. In that case, the buyer’s premium will decay due to that. 

So, Put selling is a safe game until it’s taking support at 19250.

 

RSI = overbought

MACD = looks bullish

 

Verdict: Play Long Side Put Selling until 19250 is working as support.