Expiry trade: Use this iron butterfly strategy for low-risk intraday trade in Nifty

When will this strategy make money:
This strategy that will make money if Nifty stays below 22,500 for today's expiry

Maximum loss and modifications :
When Nifty Goes below 22,370, You can additionally sell the 22450CE of today's expiry. The maximum loss in the trade is Rs 2,000.

Possible Targets :
Traders could look at making gains of 1 to 1.25 percent of capital as the trade is intraday and is relatively low risk. Further, Rahul Ghose advises traders to be cautious rather than being overly bullish

Turn cautious rather than being overly bullish, says Rahul Ghose

According to Ghose, even though Nifty and Sensex have hit their all-time highs once again, the prevailing belief among many is that markets will break out from here as a new level has been crossed.

"It is crucial to recognise at this point that markets are slightly overvalued, and the stance should shift to being cautious rather than overly bullish. The upside potential of the market before elections will be limited from this level, and from a risk-to-reward perspective, it is advisable not to be aggressively long at this point," said Ghose.

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