As discussed live , bank nifty crossed 29100 without any bullish symptoms in the morning. It made a high of 29134 tad lower than expected but nevertheless enough to give good money to traders. Nifty 11400 CE went from 2.2 all the way to almost 18. I was expecting a further push in afternoon session above 29200 bank nifty but Indian institutions failed to give any impetus in afternoon and FII algos started selling near 11384 Nifty level. Having said that , most of the calls went 100-300% from morning levels and Nifty call went as much as 700%.
Resistance for the day
29121
Support for the day
28514
Expectation
Trend day reversal , Initial weakness to be bought , sharp rally in afternoon
My trade
I'll try to short puts near support
Real time updates
Nifty 11400 CE went from 2.2 to 18
Crude oil last evening made a low at our level moving up 100 pts
Crude oil as i write has fallen around 100 pts from resistance enabling traders to make money of their lifetime
Rest I'll post whenever I get time
Resistance for the day
29121
Support for the day
28514
Expectation
Trend day reversal , Initial weakness to be bought , sharp rally in afternoon
My trade
I'll try to short puts near support
Real time updates
Nifty 11400 CE went from 2.2 to 18
Crude oil last evening made a low at our level moving up 100 pts
Crude oil as i write has fallen around 100 pts from resistance enabling traders to make money of their lifetime
Rest I'll post whenever I get time
Comment:
I have posted my views for mayhem tomorrow on social media , kindly go through it