NIFTY is still in down trend and one should not venture in to buying unless NIFTY convincingly crosses 8040-8050 to resume up trend.
FIIs bought yesterday after a long gap, will they continue to do so?
Election month backed by festival season, could see some buying and add lot of volatility due to election. Do not enter in to any naked positions or work with our usual CALL sell strategies unless very confident.
BN appeared to be weak ahead of RBI policy. But you would notice smart money holders are tilted towards positive side in BN.
Lot of addition in 15500 and 15600 PUTs as compared to 15500 CALLs. It means PUT writing is substantially more than CALL writing and this could be positive sign for BN at least for today!
RSI is in oversold region. Trading just above the channel.
So buy BN 15500 CALL
At the same time Bank of India is very weak and could go down sub 200 levels.
See lot of OI addition in CALLs.
Stock may slide down in next one week.
Based on this study, till this weekend strategy could be as follows.
Buy Bank NIFTY 15500 CALL and at the same time buy 230 PUT of bank of India.
Total investment would be around 15000/- Keep booking profits at appropriate levels at least 2%-3% in combined strategy or exit on Thursday EOD.
Disclaimer: This blog does not take any responsibility of your profit/loss
FIIs bought yesterday after a long gap, will they continue to do so?
Election month backed by festival season, could see some buying and add lot of volatility due to election. Do not enter in to any naked positions or work with our usual CALL sell strategies unless very confident.
BN appeared to be weak ahead of RBI policy. But you would notice smart money holders are tilted towards positive side in BN.
Lot of addition in 15500 and 15600 PUTs as compared to 15500 CALLs. It means PUT writing is substantially more than CALL writing and this could be positive sign for BN at least for today!
At the same time Bank of India is very weak and could go down sub 200 levels.
See lot of OI addition in CALLs.
Based on this study, till this weekend strategy could be as follows.
Buy Bank NIFTY 15500 CALL and at the same time buy 230 PUT of bank of India.
Total investment would be around 15000/- Keep booking profits at appropriate levels at least 2%-3% in combined strategy or exit on Thursday EOD.
Disclaimer: This blog does not take any responsibility of your profit/loss
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