Update:
Book profit in RPOWER 75 CALL sell contract
Book profit in TATAMOTORS 630 CALL contract.
Book profit in INFY 2100 PUT sell contract
and hold other contracts for next week.
This is an eventful month so all trades should be done very carefully. All earlier stocks moved exactly in opposite directions than anticipated. But still long way to go, there could be possibility of recovery.
Delhi pre-election results indicating AAP could come in power with majority. As an investor especially FIIs, will not appreciate this and further downside could be expected.
In perception of FIIs,
These all could be perceptions as mentioned, but perception is reality in many cases.
I am not an expert in politics but a mere option trader.
I will be keen to know where support exists.
NIFTY is very close to support levels.
RSI is near 30. As per EW theory, NIFTY, should not go down below 8445, to continue up-move.
If NIFTY goes near 8440, then 8500 PUT would be traded around 140-150. As per OI there is support around 8500 and since 8500 PUT is traded around 60 and hence support near 8440 (ie 8500-60) seems to be very strong.
AXISBANK:
Formed hammer pattern. Will cross 580 soon.
OI suggests that 530 seems to be very strong support.
Strategy:
Sell NIFTY 8500 PUT 4 lots around 140-150.
Buy JPASSIAT 22.5 PUT
Buy AXISBANK 580 CALL.
Disclaimer: This blog does not take any responsibility of your profit/loss.
Book profit in RPOWER 75 CALL sell contract
Book profit in TATAMOTORS 630 CALL contract.
Book profit in INFY 2100 PUT sell contract
and hold other contracts for next week.
This is an eventful month so all trades should be done very carefully. All earlier stocks moved exactly in opposite directions than anticipated. But still long way to go, there could be possibility of recovery.
Delhi pre-election results indicating AAP could come in power with majority. As an investor especially FIIs, will not appreciate this and further downside could be expected.
In perception of FIIs,
- this could mean there is still a major section in Indian voters who believes in freebies, socialistic Congress mindset and in future Congress-AAP alliance could become challenge to BJP's crony capitalism Governance.
- wherever possible (common man) voters are choosing substitutes to BJP. This is what shown in by-poll elections in North India. Perhaps there were no non-congress options in Maharashtra and J & K, but there also it was not safe-sailing for BJP.
- this is anti-BJP, anti-progress agenda of majority of candle procession Indians who are not driven by self styled opinion leaders on social networking sites.
These all could be perceptions as mentioned, but perception is reality in many cases.
I am not an expert in politics but a mere option trader.
I will be keen to know where support exists.
NIFTY is very close to support levels.
RSI is near 30. As per EW theory, NIFTY, should not go down below 8445, to continue up-move.
If NIFTY goes near 8440, then 8500 PUT would be traded around 140-150. As per OI there is support around 8500 and since 8500 PUT is traded around 60 and hence support near 8440 (ie 8500-60) seems to be very strong.
AXISBANK:
Formed hammer pattern. Will cross 580 soon.
OI suggests that 530 seems to be very strong support.
Strategy:
Sell NIFTY 8500 PUT 4 lots around 140-150.
Buy JPASSIAT 22.5 PUT
Buy AXISBANK 580 CALL.
Disclaimer: This blog does not take any responsibility of your profit/loss.
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