NIFTY has again formed a firm resistance level in the range of 5850 and 5880. It seems unlikely to break this barrier before expiry date this month unless we experience strong gap down opening either tomorrow or day after tomorrow.
FIIs are buying in Index future and selling in stock futures and options. Very broadly this could mean, FIIs are sellers but hedging their sell positions in stocks by buying in NIFTY futures. So their overall bias is negative with caution.
Till this time, though most world markets are in red, Singapore NIFTY is in green!
In these mixed cues hold all positions. Trend in Rupee could decide fate of the day. Banking could be negative and IT could be positive and this might not allow lot of movement in NIFTY.
Perhaps one can buy NIFTY 5900 PUT in the range of 30-40.
If in case NIFTY breaks 5850-5880 range and reaches to next support around 5800-5820, this trade would be profitable.
Disclaimer: This blog does not take any responsibility of your profit/loss
FIIs are buying in Index future and selling in stock futures and options. Very broadly this could mean, FIIs are sellers but hedging their sell positions in stocks by buying in NIFTY futures. So their overall bias is negative with caution.
Till this time, though most world markets are in red, Singapore NIFTY is in green!
In these mixed cues hold all positions. Trend in Rupee could decide fate of the day. Banking could be negative and IT could be positive and this might not allow lot of movement in NIFTY.
Perhaps one can buy NIFTY 5900 PUT in the range of 30-40.
If in case NIFTY breaks 5850-5880 range and reaches to next support around 5800-5820, this trade would be profitable.
Disclaimer: This blog does not take any responsibility of your profit/loss
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