Nifty trend

[Capricorn]

When nifty approaches either short option, buy / short NF as required. Else get out of position if in profit if market turns volatile.

 

[cool_kk]

When nifty approaches either short option, buy / short NF as required. Else get out of position if in profit if market turns volatile.

Thanks Capricorn,

What I understand is

Don't do anything till Nifty reaches close to 5500 say 10-20 points near.

Action suggested

1) Buy Nifty Future @ 5480-90 (If you see long pattern/uptrend in your charts)

OR

2)
Short option means.. Sell again @ 5600 ?

OR buy call to cover it. ?

Thanks

 

[Capricorn]

Bro , you have shorted 2 options cover with NF if it approaches either side. Beware of gaps , no protection there. So if markets get volatile just square off and get out fast.

 

[Capricorn]

T/l has held so far. Tomorrow's a weekly close again. CRUCIAL.

 

[cool_kk]

T/l has held so far. Tomorrow's a weekly close again. CRUCIAL.

Yes, you are right. Tomorrow is crucial, US is down so far..

I am planning to Long Nifty above 5500 to cover my 5500 Call.

I am planning to short Nifty below 4900 to cover my 4900 PE.

I think this will make sure, I don't loose premimum on both sides.

Let's see how market goes

 

[simple_trader]

It seems NF resistance is between 5430-5440 and support is around 5370 for today's trade.

As I have written in the other thread, It seems that there is a visibility of NF correcting to 5300 in next a few days. However before doing this, we would see some more consolidation around 5400.

Happy Trading!!

 

[Capricorn]

Yeah,If we can hold 5440,we can see 5480.

 

[simple_trader]

5480 or 5380? I think 5380. May be my understanding is wrong today!

 

[Capricorn]

If we can't hold 5440, then 5380...:lol:

 

[simple_trader]

Market will do what it has to do.

Any idea where is BN headed today? As per me it will correct sharply today!

rather I should say, chances are more that BN can correct today sharply.