NIFTY is in no mood of correction.
Hold LT, AXISBANK CALL sell positions.
If NIFTY crosses 6360 tomorrow, we have think about CALL sell positions, perhaps it is better to off-load few lots and reenter later or sell CALLs of next series to maintain credit balance in the trading account.
Technically once election is announced there will not be any new decisions by Government and there should be some profit booking. At least it did not happen today. As per OI table still 6400 is very strong resistance. This is bit unusual and could indicate top is not far ahead from here of this rally.
No new trade for sometime. Better than expected CAD data could give positive opening and would touch resistance zone. We should able to hold position at least till weekend then premium would start decreasing and CALL sell positions could be in better shape to provide profit booking opportunity.
Disclaimer: This blog does not take any responsibility of your profit/loss
Hold LT, AXISBANK CALL sell positions.
If NIFTY crosses 6360 tomorrow, we have think about CALL sell positions, perhaps it is better to off-load few lots and reenter later or sell CALLs of next series to maintain credit balance in the trading account.
Technically once election is announced there will not be any new decisions by Government and there should be some profit booking. At least it did not happen today. As per OI table still 6400 is very strong resistance. This is bit unusual and could indicate top is not far ahead from here of this rally.
No new trade for sometime. Better than expected CAD data could give positive opening and would touch resistance zone. We should able to hold position at least till weekend then premium would start decreasing and CALL sell positions could be in better shape to provide profit booking opportunity.
Disclaimer: This blog does not take any responsibility of your profit/loss
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