RBI policy turned out to be non-event but NIFTY continued upward movement.
This is very range bound market. Slowly it is reaching at higher end of the band. Today it did cross major resistance, still volume was not very significant.
FIIs started buying again and net buyers for last two days.
ICICIBANK
RBI event is over. Stock is rangebound.
Sell 1620 CALL between 5.00-6.50.
NIFTY
Still contra trade looks promising. It could turn out to be more profitable trade.
Do it very carefully, if you take this trade, monitor it with strict SL.
This is very risky trade, against market direction.
Buy 7600 PUT between 53 to 49, SL 42 and target 65/79/85. Manage trade with trailing SL.
Book loss in 14400 BN PUT contract.
Disclaimer: This blog does not take any responsibility of your profit/loss
This is very range bound market. Slowly it is reaching at higher end of the band. Today it did cross major resistance, still volume was not very significant.
FIIs started buying again and net buyers for last two days.
ICICIBANK
RBI event is over. Stock is rangebound.
Sell 1620 CALL between 5.00-6.50.
NIFTY
Still contra trade looks promising. It could turn out to be more profitable trade.
Do it very carefully, if you take this trade, monitor it with strict SL.
Buy 7600 PUT between 53 to 49, SL 42 and target 65/79/85. Manage trade with trailing SL.
Book loss in 14400 BN PUT contract.
Disclaimer: This blog does not take any responsibility of your profit/loss
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