NIFTY as expected bounced back from 7440 levels and respected EW rule.
So it this is true 5th wave started and end of 5th wave usually should follow with sharp correction. If one sees such a sharp correction then only down trend will began otherwise rally could continue after consolidation in 7520-7600 region.
NIFTY 8000 CALL sell contract:
Those who have not booked profit earlier can hold till NIFTY crosses 7800 in spot.
Yesterday though NIFTY went up by 90 pints volumes were reasonably low. Today it could pick up bit momentum if short covering continues.
This sentiment based rally is not stopping anywhere.
NIFTY went up because investors thought after railway rate hike, Government is taking tough decision.Had this rate hike would have done by Congress led Government, perhaps market would have fallen in anticipation of inflation.
A systematic propaganda on social media sites, boost sentiments and NIFTY is going up. So investors should stay away. FIIs flow has also reduced in past week.
NIFTY will struggle to cross 7650 before expiry.
Risk takers can buy 7500 PUT, it is very cheap, trading around Rs.9/- and buy 7700 CALL around Rs. 5/-
Total investment will be around Rs.700-800, but if NIFTY takes some directional move on expiration day one could gain handsome profit.
Disclaimer: This blog does not take any responsibility of your profit/loss
So it this is true 5th wave started and end of 5th wave usually should follow with sharp correction. If one sees such a sharp correction then only down trend will began otherwise rally could continue after consolidation in 7520-7600 region.
NIFTY 8000 CALL sell contract:
Those who have not booked profit earlier can hold till NIFTY crosses 7800 in spot.
Yesterday though NIFTY went up by 90 pints volumes were reasonably low. Today it could pick up bit momentum if short covering continues.
This sentiment based rally is not stopping anywhere.
NIFTY went up because investors thought after railway rate hike, Government is taking tough decision.Had this rate hike would have done by Congress led Government, perhaps market would have fallen in anticipation of inflation.
A systematic propaganda on social media sites, boost sentiments and NIFTY is going up. So investors should stay away. FIIs flow has also reduced in past week.
NIFTY will struggle to cross 7650 before expiry.
Risk takers can buy 7500 PUT, it is very cheap, trading around Rs.9/- and buy 7700 CALL around Rs. 5/-
Total investment will be around Rs.700-800, but if NIFTY takes some directional move on expiration day one could gain handsome profit.
Disclaimer: This blog does not take any responsibility of your profit/loss
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