As expected today there was a strong rally. This is power of liquidity. Even RBI Governor hiked rates BANKNIFTY gave clear breakout. One could ever explain logic behind this, but all this is sign of fund flowing in Indian market and maybe some good news is yet to come which we are not aware of!!
Trades and especially FIIs are riding on risk, buying at every low levels with tight stop loss. Fortunately for them 3 out of 4 trades are working for them.
Fundamentals are still negative. GDP forecast is reduced. Rupee is much above 60 and it is expected to depreciate from this levels as gold and crude are becoming dearer. According to world bank India is 134th in ranking of ease of doing business.Market does not want to hear that. NIFTY took channel support and went up by more than 125 points during the day.
Now all eyes are on FOMC meeting in US. Perhaps they will now declare tapering date and if it is delayed or postponed, market will see new highs. However, it will be known on Friday after closure of accounts for this month.
Buy DLF 155 call at around 1.5
and
Buy NIFTY 6200 Put around 20/25.
If short covering and roll over completed today, there is high likelihood that NIFTY will close near 6120/6140 for this expiry.
Sell NIFTY 6400 CALLs/6500 CALLs of November expiry. Keep averaging, do not invest all capital in one go.
Disclaimer : This blog does not take any responsibility of your profit/loss
Trades and especially FIIs are riding on risk, buying at every low levels with tight stop loss. Fortunately for them 3 out of 4 trades are working for them.
Fundamentals are still negative. GDP forecast is reduced. Rupee is much above 60 and it is expected to depreciate from this levels as gold and crude are becoming dearer. According to world bank India is 134th in ranking of ease of doing business.Market does not want to hear that. NIFTY took channel support and went up by more than 125 points during the day.
Now all eyes are on FOMC meeting in US. Perhaps they will now declare tapering date and if it is delayed or postponed, market will see new highs. However, it will be known on Friday after closure of accounts for this month.
Buy DLF 155 call at around 1.5
and
Buy NIFTY 6200 Put around 20/25.
If short covering and roll over completed today, there is high likelihood that NIFTY will close near 6120/6140 for this expiry.
Sell NIFTY 6400 CALLs/6500 CALLs of November expiry. Keep averaging, do not invest all capital in one go.
Disclaimer : This blog does not take any responsibility of your profit/loss
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