NIFTY has reached closed to 6300 and trying to cross all time high.
Markets are in up move and discounting all negatives news. On the contrary NIFTY is searching for any positive element to to go up. Decision by oil and gas ministry was one of that case where RIL and others surged along with NIFTY.
However, now everything is behind us and now priced in. FED decision, RBI policy, RIL, etc. FIIs are on vacation. There is no further trigger immediately. Maybe market will use this time for consolidation between 6250-6350 for some time at least till 1st week of January before next big move.
We are not taking any new trades, but selling 6350 CALL of December expiry between 17-20 could be the safest bet.There is lot of addition of 6300 PUT, this could take NIFTY beyond 6320/6325 in early hours on Monday and 6350 CALL will be available at much higher price about 25-30. Do average it then.
We are holding IDFC PUT and IFCI CALL.
Disclaimer: This blog does not take any responsibility of your profit/loss
Markets are in up move and discounting all negatives news. On the contrary NIFTY is searching for any positive element to to go up. Decision by oil and gas ministry was one of that case where RIL and others surged along with NIFTY.
However, now everything is behind us and now priced in. FED decision, RBI policy, RIL, etc. FIIs are on vacation. There is no further trigger immediately. Maybe market will use this time for consolidation between 6250-6350 for some time at least till 1st week of January before next big move.
We are not taking any new trades, but selling 6350 CALL of December expiry between 17-20 could be the safest bet.There is lot of addition of 6300 PUT, this could take NIFTY beyond 6320/6325 in early hours on Monday and 6350 CALL will be available at much higher price about 25-30. Do average it then.
We are holding IDFC PUT and IFCI CALL.
Disclaimer: This blog does not take any responsibility of your profit/loss
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