No new trades.
A day prior to credit policy in last four/five occasions saw upswing in NIFTY, later irrespective of whether there was rate cut or no rate cut, market declined by about 100 to 350 points.
Similar behavior can be expected this time too. However, since there is lot of liquidity still maybe market may not see huge fall.
So market could go up in an expectation of rate cut tomorrow. As mentioned earlier 5972/5975 could be resistance level, if it is crossed it could go beyond 6000. That could be the time book partial profit on long NIFTY call options/other stocks options. After initial euphoria market could show downward moment as last occasions and could touch 5600/5650, it is the time to book profit in short positions.
I will not advocate of taking any new trades till there is clarity, which one can expect after March 19.
If NIFTY touches 5600, then really it could be strong buy from thereon. NIFTY will find it difficult to go below 5700 and one can start accumulating NIFTY CALLs from thereon for April/March expiry.
Disclaimer: This blog does not take any responsibility of your profit/loss.
A day prior to credit policy in last four/five occasions saw upswing in NIFTY, later irrespective of whether there was rate cut or no rate cut, market declined by about 100 to 350 points.
Similar behavior can be expected this time too. However, since there is lot of liquidity still maybe market may not see huge fall.
So market could go up in an expectation of rate cut tomorrow. As mentioned earlier 5972/5975 could be resistance level, if it is crossed it could go beyond 6000. That could be the time book partial profit on long NIFTY call options/other stocks options. After initial euphoria market could show downward moment as last occasions and could touch 5600/5650, it is the time to book profit in short positions.
I will not advocate of taking any new trades till there is clarity, which one can expect after March 19.
If NIFTY touches 5600, then really it could be strong buy from thereon. NIFTY will find it difficult to go below 5700 and one can start accumulating NIFTY CALLs from thereon for April/March expiry.
Disclaimer: This blog does not take any responsibility of your profit/loss.
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