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 5691.15 with a huge gain of 136.90 points on intraday basis.
NIFTY CLEAR ALL ITS POSSIBLE BARRIER TO MAKE HIGH AFTER PASSING 5630. AS SUGGESTED LAST WEEK, ONE THOSE SHORT NEAR 5650 ON MONDAY ITSELF, MADE 100 POINTS. THOSE WHO OPTED FOR OPTIONS HAVE ALSO GOT THE SAME. HOWEVER, THOSE WHO STUCK AND DIDN'T COME OUT MAY PUT STOPLOSS OF 5740-5750 FOR BOTH NIFTY FUTURE AND NIFTY OPTIONS. DUE TO EXPIRY WEEK, VOLATILITY WILL BE SEEN. IN CASE, NIFTY CLEARS 5750, WE MAY SEE 5870 IN SHORT TERM.
For today, WATCH 5748/5750 LEVEL AS RESISTANCE. ABOVE 5750 LEVEL, EXIT FROM ALL SHORT. THE BEST TRADING IDEA FOR NIFTY IS NOW AS AND WHEN NIFTY HITS 5750, BUY 5700 PUT FOR THIS SERIES WITH STRICT STOPLOSS OF 5770/5780..................
From options data (Read OI analysis page), OI activity turned significantly bullish wherein near the money Put strikes of 5500 and 5600 saw aggressive additions. On the Call side, closure was visible in 5500 and 5600 strikes and positions were rolled to the deep OTM 5800 Call strike.
DISCLAIMER: BEING A TRADER, I MAY HAVE SOME VESTED INTEREST.
