NIFTY stuck in a broad range.
Everyone who had missed the rally is pumping in money. Today FIIs also bought (net buyer) in cash though not in usual huge quantities. They did so after a gap of five days.
IIP and inflation numbers announced after market hours today are not good. Geopolitical concerns are around. GDP growth could be a big question mark.
However, everyday NIFTY is going up even on low trading volumes.
Traders are betting on NAMO's speech on 15th August. He is being portrayed as neo Masiha.
What do we do as a trader in relatively predictable market?
Buy when NIFTY goes near 7400 or sell NIFTY 7300 PUTs when NIFTY is near 7500.
Sell when NIFTY goes near 7850 or sell NIFTY 7950 CALLs when NIFTY is near 7800.
Tomorrow in spite of all negativity NIFTY could touch 7800 or on August 14 NIFTY could cross 7850 if it retains this momentum.
Sell NIFTY 7950 CALL between 22-25. Or buy 7800 PUT around 50.
Most importantly even if NIFTY opens gap down due to global cues, it will be very risky to short in this market. As long as NIFTY is above 7660-7650, do not even dream of going short in the market. See the NIFTY chart. It seems it is forming flag pole, though volumes are not very supportive! So don't short.
Bank NIFTY (BN)
Take CALL sell position in BN when it reaches near 15450-15500.
One could able to find good 16000 CALL sell opportunity then.
BN had broken the range on downside, and tomorrow it could regain the levels in the range and could continue up move.
Premiums are low and it does not offer good CALL sell opportunities now. Once it goes in channel and reaches near 15500, it could provide CALL sell possibilities, maybe on August 14 or on August 18.
Disclaimer: This blog does not take any responsibility of your profit/loss
Everyone who had missed the rally is pumping in money. Today FIIs also bought (net buyer) in cash though not in usual huge quantities. They did so after a gap of five days.
IIP and inflation numbers announced after market hours today are not good. Geopolitical concerns are around. GDP growth could be a big question mark.
However, everyday NIFTY is going up even on low trading volumes.
Traders are betting on NAMO's speech on 15th August. He is being portrayed as neo Masiha.
What do we do as a trader in relatively predictable market?
Buy when NIFTY goes near 7400 or sell NIFTY 7300 PUTs when NIFTY is near 7500.
Sell when NIFTY goes near 7850 or sell NIFTY 7950 CALLs when NIFTY is near 7800.
Tomorrow in spite of all negativity NIFTY could touch 7800 or on August 14 NIFTY could cross 7850 if it retains this momentum.
Sell NIFTY 7950 CALL between 22-25. Or buy 7800 PUT around 50.
Bank NIFTY (BN)
Take CALL sell position in BN when it reaches near 15450-15500.
One could able to find good 16000 CALL sell opportunity then.
BN had broken the range on downside, and tomorrow it could regain the levels in the range and could continue up move.
Disclaimer: This blog does not take any responsibility of your profit/loss
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