Reason for Bfly @44400 with 200 pts wing
a) Golden ratio of retracement zone
b) If price gap down below 44100, invalidates our strategy and at 10.30AM re-analyze for situation. if price appears 44300 without big gap down at 10.30 AM, the set up will be ready for execution. Again the probability is around 55 %, but good risk reward zone of 2R.
b) The idea of having the bfly, once price reaches to 44179 is to capture retracement, if price retrace to 44300 and is the probable area of expiry.
c) bear flag set up: Wait for completion of sell-off.
d) Sl is in-build and risk not more than 1% of total capital.