NIFTY started moving in channel again. It is at upper end of channel and chances that it could cross 8000 in couple of trading sessions.
EOD close below 7840 is must for bears.
One can go long with SL 7840.
FIIs are buying heavily. Yellen did not do anything and easy money will keep flowing to India for some more time it seems at least till end of 2014 and traders are hedging their bets by buying options.
No point in doing any new trade today.
This 400 points rally in 10 trading sessions always formed higher tops, gave all time close every alternate day, backed by FIIs buying, lot of Euphoria in market. But no point in buying PUTs because chances that they will end up worthless in this bull run and selling CALLs might not be profitable due to very low IV.
Risk taker could buy 7900 PUTs, it will be cheap with gap-up opening.
Disclaimer: This blog does not take any responsibility of your profit/loss
EOD close below 7840 is must for bears.
One can go long with SL 7840.
FIIs are buying heavily. Yellen did not do anything and easy money will keep flowing to India for some more time it seems at least till end of 2014 and traders are hedging their bets by buying options.
No point in doing any new trade today.
This 400 points rally in 10 trading sessions always formed higher tops, gave all time close every alternate day, backed by FIIs buying, lot of Euphoria in market. But no point in buying PUTs because chances that they will end up worthless in this bull run and selling CALLs might not be profitable due to very low IV.
Disclaimer: This blog does not take any responsibility of your profit/loss
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