NIFTY experienced profit booking after long time.
Maximum open interest in NIFTY is at 9000 CALL, and it seems NIFTY might take some time to close above 9000 on EOD basis. NIFTY has strong support near 8500 looking at OI in 8500 PUTs.
From NIFTY EOD chart, it is clear that NIFTY reversed from strong resistance line and this was supported by global cues.
Continue with RPOWER, TATAMOTORS and INFY strategies.
Since we have two positions viz TATAMOTORS and RPOWER assuming NIFTY will continue up-move and except INFY we do not have and bear position, one can think of buying PUTS in CAIRN INDIA.
Buy CAIRN 230 PUT between 5-6.
Disclaimer: This blog does not take responsibility of your profit/loss
Maximum open interest in NIFTY is at 9000 CALL, and it seems NIFTY might take some time to close above 9000 on EOD basis. NIFTY has strong support near 8500 looking at OI in 8500 PUTs.
Since we have two positions viz TATAMOTORS and RPOWER assuming NIFTY will continue up-move and except INFY we do not have and bear position, one can think of buying PUTS in CAIRN INDIA.
Disclaimer: This blog does not take responsibility of your profit/loss
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