Gap down opening seems to be likely based on global cues and this could turn out to be good buying opportunity for traders today.
RELINFRA
Today being result day, try to hold 840 CALL sell position. From Monday premium will go down and even if stock trades above Rs. 800, our 840 CALL option contract will be in profit.
Book the loss only if stock trades above 812 in cash around 3.25 PM today.
NIFTY is trying to cover all its loss during last week. Today one can expect big jump from day low to around 7720 level, this rally can see earlier top and reach 7790-7800 range soon.
Please notice expanding range in the chart, and it is at higher side presently and which will be confirmed after breaking 7800.
No weakness is seen. FIIs started buying in huge quantities. Last four days it has not broken low of prior day and this is very bullish sign.
So even if today market opens with gap down, yesterday's low 7612 should not be broken.
Best strategy for NIFTY is buy ITM call with SL 7612 in cash.
This means buy 7650 CALL around 75-80-85. Buy don't hold positions if NIFTY slips below 7600, reason being premiums would start going down from today afternoon as market makers would start adjusting premiums to account for Saturday and Sunday from post noon today.
Disclaimer: This blog does not take any responsibility of your profit/loss
RELINFRA
Today being result day, try to hold 840 CALL sell position. From Monday premium will go down and even if stock trades above Rs. 800, our 840 CALL option contract will be in profit.
Book the loss only if stock trades above 812 in cash around 3.25 PM today.
NIFTY is trying to cover all its loss during last week. Today one can expect big jump from day low to around 7720 level, this rally can see earlier top and reach 7790-7800 range soon.
Please notice expanding range in the chart, and it is at higher side presently and which will be confirmed after breaking 7800.
No weakness is seen. FIIs started buying in huge quantities. Last four days it has not broken low of prior day and this is very bullish sign.
So even if today market opens with gap down, yesterday's low 7612 should not be broken.
Best strategy for NIFTY is buy ITM call with SL 7612 in cash.
This means buy 7650 CALL around 75-80-85. Buy don't hold positions if NIFTY slips below 7600, reason being premiums would start going down from today afternoon as market makers would start adjusting premiums to account for Saturday and Sunday from post noon today.
Disclaimer: This blog does not take any responsibility of your profit/loss
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