DUE TO HEALTH PROBLEM, I AM NOT IN A POSITION TO UPDATE ON DAILY BASIS. HOWEVER, WILL TRY TO UPDATE ON WEEKLY BASIS. ONE MAY WATCH THE DATA AS WELL AS MARKET OUTLOOKS, AUTOMATED DAILY CALLS WITH SUPPORT AND RESISTANCE ETC. THAT ARE BEING UPDATED AUTOMATICALLY ON REAL TIME/DAILY BASIS.
Nifty closed on Friday at 5703.30 with a huge gain of 53.80 points on intraday basis.
Nifty closed on Friday at 5703.30 with a huge gain of 53.80 points on intraday basis.
NIFTY CLEAR ALL ITS POSSIBLE BARRIER TO MAKE HIGH AFTER PASSING 5630. AS SUGGESTED LAST WEEK, WATCH 5748/5750 LEVEL AS RESISTANCE. ABOVE 5750 LEVEL, EXIT FROM ALL SHORT. IN CASE, NIFTY CLEARS 5750, WE MAY SEE 5870-5900 IN SHORT TERM.
For today, WATCH 5748/5750 LEVEL AS RESISTANCE. ABOVE 5750 LEVEL, GO LONG OR BUY 5900CE FOR THIS SERIES WITH STOPLOSS BELOW 5630. THE BEST TRADING IDEA FOR NIFTY IS NOW AS AND WHEN NIFTY HITS 5650, BUY 5700 CALL FOR THIS SERIES WITH STRICT STOPLOSS OF 5610/5580 AND MAXIMUM AT 5550..................
From options data (Read OI analysis page), noticeable Put base in the October series is placed at the 5500/5600 Put strike. Nifty October Call options started with the highest open interest at 5700/5800 and the Nifty closed above the first hurdle of 5700. This led to short covering in 5700 Call options. Sustainability above 5700 may lead further upsides towards 5800.
DISCLAIMER: BEING A TRADER, I MAY HAVE SOME VESTED INTEREST.
