After every NAMO event NIFTY is gaining at least 100 points. Lot of advertisement about his talk on Teacher's day. Good media management, so after Japan visit, market might find something from his talk and if NIFTY goes above 8145 in cash then it will cross 8180-8190 in style. This leg of consolidation will complete at 8190 and NIFTY will touch 8300 during the week.
In last 22 weeks NIFTY formed lower lows (that too marginal lower low, if such a term exists!) only on couple of occasions. So 7984, this week's low should not be broken in near future.
Sell 7900 PUT options. Psychologically NIFTY will not go below 8000 at least in this month and at the same time 8300 could be good support.
All indicators are overbought but nowadays they don't correct by price drop but correct with time. NIFTY had stayed in the range for three trading sessions, and RSI reduced by 15% from its high. Perhaps it is good enough for next up move. In NIFTY cash 8030-8020 is very strong support and lot of buying could emerge at this level.
FIIs are buying huge in cash and selling in Future. They are perfectly hedged whereas traders like us have to manage very small account and do have lot of limitations in devising appropriate strategies for such market conditions.
One of the safe strategy:
Sell 7900 PUT and Sell 8300 CALL
DLF:
DLF has given one opportunity to book profit, which we missed!
Hope we would get another opportunity before month end. Strong buying seen in this counter on Friday and it would be appropriate to book profit in 160 PUT sell contract.
IFCI:
It could go to 25-26 before month end based on retracement levels.
IFCI PUT 30 is available around 0.40.
It is worth investing Rs. 3200/-
Buy IFCI 30 PUT around 0.40. If it really slips to 25 your trading account will be credited by about Rs. 40,000/-
See chart, this possibility can not be ignored.
Invest premium received from selling CALLs and PUTs in NIFTY in buying IFCI PUT.
Disclaimer: This blog does not responsibility of your profit/loss
In last 22 weeks NIFTY formed lower lows (that too marginal lower low, if such a term exists!) only on couple of occasions. So 7984, this week's low should not be broken in near future.
Sell 7900 PUT options. Psychologically NIFTY will not go below 8000 at least in this month and at the same time 8300 could be good support.
All indicators are overbought but nowadays they don't correct by price drop but correct with time. NIFTY had stayed in the range for three trading sessions, and RSI reduced by 15% from its high. Perhaps it is good enough for next up move. In NIFTY cash 8030-8020 is very strong support and lot of buying could emerge at this level.
FIIs are buying huge in cash and selling in Future. They are perfectly hedged whereas traders like us have to manage very small account and do have lot of limitations in devising appropriate strategies for such market conditions.
One of the safe strategy:
DLF:
DLF has given one opportunity to book profit, which we missed!
Hope we would get another opportunity before month end. Strong buying seen in this counter on Friday and it would be appropriate to book profit in 160 PUT sell contract.
IFCI:
It could go to 25-26 before month end based on retracement levels.
IFCI PUT 30 is available around 0.40.
It is worth investing Rs. 3200/-
Buy IFCI 30 PUT around 0.40. If it really slips to 25 your trading account will be credited by about Rs. 40,000/-
See chart, this possibility can not be ignored.
Invest premium received from selling CALLs and PUTs in NIFTY in buying IFCI PUT.
Disclaimer: This blog does not responsibility of your profit/loss
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