NIFTY trades are very dangerous now. In one day NIFTY shows movement of 100 points and it is good enough to wipe out trading account.
Work only in strategies.
See OI table of Jan 7 and Jan 9 January.
Jan 07
Jan 09
One thing is very noticeable, though NIFTY covered 200 points in two days, Friday January 09 seen lot of long unwinding in CALL options with decrease in OI. This gives clear signal that FIIs (who are very prominent in derivative segment) are not very bullish on NIFTY. In fact they are net sellers in cash segments. At the same time lot of addition of PUTs around 8100 which is trading around 50, indicates FIIs are reasonably certain about limited downside, maximum till 8050-8100.
NIFTY Chart
If NIFTY manages to hold on Friday's low, 8550 is possible in near term.
Axis Bank:
It just managed to bounce back from short term support on Friday, The level between 482-487 is very important for bulls.
Results are scheduled on January 16.
If they are reasonably good, AXISBANK could cross 540.
Based on this assumptions:
Sell 150 quantity NIFTY 8500 CALL around 30-36 and buy one lot of AXISBANK 500 CALL Hold the strategy till AXISBANK results.
Disclaimer: This blog does not take any responsibility of your profit/loss
Work only in strategies.
See OI table of Jan 7 and Jan 9 January.
Jan 07
NIFTY Chart
If NIFTY manages to hold on Friday's low, 8550 is possible in near term.
Axis Bank:
It just managed to bounce back from short term support on Friday, The level between 482-487 is very important for bulls.
Results are scheduled on January 16.
If they are reasonably good, AXISBANK could cross 540.
Based on this assumptions:
Sell 150 quantity NIFTY 8500 CALL around 30-36 and buy one lot of AXISBANK 500 CALL Hold the strategy till AXISBANK results.
Disclaimer: This blog does not take any responsibility of your profit/loss
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