Most of the views in this month were wrong and hence trades went wrong.
Book profit in bull spread strategy in NIFTY.
With this speed NIFTY could close near 8000 in this month. Lot of optimism about Modi government and media management taking NIFTY and other indices at new highs. But this is happening since February. More than 2000 points in NIFTY in less than 6 months is phenomenal by any standard. Moreover, NIFTY gave fresh breakout today, it could cross 7920 tomorrow and march towards 8000.
Exit all positions, and do not enter in to any fresh short positions. Book loss in NIFTY PUT positions, if you can not bear loss.
There is no point in hoping NIFTY will correct 5% from here and 7700 PUTs will end up in profit. So better not to carry deadwood.
Premiums are low, so no point in entering in fresh CALL sell contracts and at the same time buying CALLs might not fetch good profit too. One can buy 8000 CALLs after couple of days if market consolidates around present range.
In short, no new trades for next couple of trades.
Disclaimer: This blog does not take any responsibility of your profit/loss
Book profit in bull spread strategy in NIFTY.
With this speed NIFTY could close near 8000 in this month. Lot of optimism about Modi government and media management taking NIFTY and other indices at new highs. But this is happening since February. More than 2000 points in NIFTY in less than 6 months is phenomenal by any standard. Moreover, NIFTY gave fresh breakout today, it could cross 7920 tomorrow and march towards 8000.
Exit all positions, and do not enter in to any fresh short positions. Book loss in NIFTY PUT positions, if you can not bear loss.
There is no point in hoping NIFTY will correct 5% from here and 7700 PUTs will end up in profit. So better not to carry deadwood.
Premiums are low, so no point in entering in fresh CALL sell contracts and at the same time buying CALLs might not fetch good profit too. One can buy 8000 CALLs after couple of days if market consolidates around present range.
In short, no new trades for next couple of trades.
Disclaimer: This blog does not take any responsibility of your profit/loss
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