OI analysis suggests that nifty is looking at downside of at least 100 points from the current price.
Expecting it to correct till 20 DMA 12110 levels.
CALL writers have been very active in todays session which re-confirms the down side.
I guess u and the call writers got trapped in a trending market..how can u think d market will go down when almost all the banking stocks are at their monthly supports (hdfc, ICICI - at it's 20 dema, rbl) or 200 dema (indusind)..it was a bull run. Cement, metal & auto joined in as well. Call writers got trapped
@BeingAchilles, This is stock market...and u cant be right 100 percent of times...It never fails to surprise... As far as my thought process is concerned I dont have to be correct all the time to make money.