Nifty Key levels for day traders
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Hrly charts show that further downside opens up below 5239 and once 5223 is taken out, we can look forward to a nice correction. Till 5223 is tested, I dont want to go long as we already ran up a bit too high and too fast. I dont want to go short at current levels as there is always a chance that we might just drift sideways with mildly bullish sentiments taking it higher and higher.
Options have very dry right now and only trade i'm willing to do is to buy 5200 put april and sell double qty of 5200 put march. This will give me enough room for further upside and once 5302 is broken, i might shift strike price to 5300...
Hrly charts show that further downside opens up below 5239 and once 5223 is taken out, we can look forward to a nice correction. Till 5223 is tested, I dont want to go long as we already ran up a bit too high and too fast. I dont want to go short at current levels as there is always a chance that we might just drift sideways with mildly bullish sentiments taking it higher and higher.
Options have very dry right now and only trade i'm willing to do is to buy 5200 put april and sell double qty of 5200 put march. This will give me enough room for further upside and once 5302 is broken, i might shift strike price to 5300...
bit confused, with more rate hike on cards, how do you expect nifty to go past 5300 in april. sentiments are turning negative, globally all banks have started to tighten their belts, this is not unique to India. Next month, with fuel price hike, the inflation is bound to be in double digits, politically, congress will be on hot seat, and will be bound to do something, even though it may be an eye wash, they have to keep the opposition and allies happy.
Just help me by explaining your strategy.
S&P changed its rating for India from negative to neutral...
When you have a scenario where people who sold at sub 4900 levels and are desperate to get in and dont see a dip coming... they chase price...
When liquidity is chasing price.... anything can happen. the net buy fig of the FII is 10,000 cr plus.... Thats a lot of buying even at higher levels...
unless these guys stop buying.... we will not get any meaningful dips....
I'm playing for the fall... but a bit more safer....
bot 5200 put april and sold 5200 march... qty of both option remains the same... thanks to the gap down...
When you have a scenario where people who sold at sub 4900 levels and are desperate to get in and dont see a dip coming... they chase price...
When liquidity is chasing price.... anything can happen. the net buy fig of the FII is 10,000 cr plus.... Thats a lot of buying even at higher levels...
unless these guys stop buying.... we will not get any meaningful dips....
I'm playing for the fall... but a bit more safer....
bot 5200 put april and sold 5200 march... qty of both option remains the same... thanks to the gap down...
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