NIFTY bounced back as expected from support. It formed Harami and Inside day candle. Gap up opening will confirm the pattern. Buy NIFTY if it crosses 8040 in cash.
NAMO wave is still in market, though it is waning in rest of the country, no business news channels or business news papers are giving enough coverage for BJP defeat and helping to keep sentiments high.
FIIs again bought in cash though in small quantities.
Option table suggest support strengthens at 7900. You will notice lot of aggressive PUT writing in 8000-7800 range, so 8000 level perhaps is cemented for the month. Lot of unwinding in 7900-8100 CALLs indicates bears are running away and giving rein to bulls very soon.
Up-move is intact in spite of FOMC meeting in Washington DC.
Hold IFCI PUT and DLF strategy, even if market opens gap up tomorrow. Exit both trades if NIFTY surpasses 8050 convincingly.
Book profit in NIFTY 8100 CALL buy and 7900 PUT buy strategy if you get chance during early morning trading hours based on FOMC meeting outcome.
No new trades.
Disclaimer: This blog does not take any responsibility of your profit/loss
NAMO wave is still in market, though it is waning in rest of the country, no business news channels or business news papers are giving enough coverage for BJP defeat and helping to keep sentiments high.
FIIs again bought in cash though in small quantities.
Option table suggest support strengthens at 7900. You will notice lot of aggressive PUT writing in 8000-7800 range, so 8000 level perhaps is cemented for the month. Lot of unwinding in 7900-8100 CALLs indicates bears are running away and giving rein to bulls very soon.
Up-move is intact in spite of FOMC meeting in Washington DC.
Hold IFCI PUT and DLF strategy, even if market opens gap up tomorrow. Exit both trades if NIFTY surpasses 8050 convincingly.
Book profit in NIFTY 8100 CALL buy and 7900 PUT buy strategy if you get chance during early morning trading hours based on FOMC meeting outcome.
No new trades.
Disclaimer: This blog does not take any responsibility of your profit/loss
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