anupshah76

NIFTY_Expect to correct by 300pts

Short
NSE:NIFTY   Nifty 50 Index
Market has seen gap up opening of NIFTY last few weeks with improved
exponential momentum. It will eventually subside due to proft booking
at ATH levels thus correction to fill these gaps. The expected levels of
correction are 15870 to 15650.

Comments

Hi Sir, I have 15900 PE 12AUG Expiry, @78, LTP: 32. Should I hold it till market falls or should I accept loss?
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anupshah76 beingarshadkhan
@beingarshadkhan, hi, I'm not sebi registered or any financial advisor. I have only presented my views. 15860-15900 were important support levels for NIFTY, once breached there was no need to carry PE position. Your PE option will loose its value anyway closer to expiry so better to exit asap. Waiting for correction to reduce/cover losses is double edged sword.
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@anupshah76, Good Morning Anup Sir, Thank you for your valuable advice, I will exit today and keep your advice in mind; not to trade OTM contracts against market momentum.
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please check FnO data
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Sorry sir but i disagree with you. Data points are suggesting that market will remain bullish
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