Options Set up for the Week : March W4

Current Nifty spot 14507

Short NIFTY01Apr2021.14200PE  1 lot @34.7

Long  NIFTY01Apr2021.14800PE  1 lot @280.7

Maximum Profit Potential =26,550/-

Maximum Loss Risk = -18,450/-

Breakeven =14555

Capital needed approx.     < 25000/-

Risk reward 1:1.4

Exit if profit >15-25% of capital or Loss > 12000 

Probability of profit = 55%

Reason : nifty could fall some more from current levels or attempt to move  up some more and settle around 14500. Skip trade if large gapup opening.