#Nifty near strong support zone - Expect a positive move ahead.
So I booked most of the profits yesterday from the Nifty short position and got a few lots because I expect Nifty to drift down to at least 10052 level.
If Nifty breaches that then the level of 9996 would come into play.
I'd suggest you all to use your buying power wisely and make long positions in steps just don't simply go all in at the 10052 level or the 9996 level.
Stay nimble footed at these levels and later on we will add more long positions as Nifty move above its breakthrough level of 10235.
Also make a purchase in the DEC EXPIRY so that you have a lot of time on your hands and the probability of this trade goes higher.
As per OI Analysis the PUT CALL RATIO is at 0.78 and the MAX OPTION PAIN for the NOV EXPIRY lies in the zone of 10200-10300
All in all, I expect Nifty to bottom out in the zone of 10052-9996 followed by some consolidation or an immediate positive move.
Cheers!
If Nifty breaches that then the level of 9996 would come into play.
I'd suggest you all to use your buying power wisely and make long positions in steps just don't simply go all in at the 10052 level or the 9996 level.
Stay nimble footed at these levels and later on we will add more long positions as Nifty move above its breakthrough level of 10235.
Also make a purchase in the DEC EXPIRY so that you have a lot of time on your hands and the probability of this trade goes higher.
As per OI Analysis the PUT CALL RATIO is at 0.78 and the MAX OPTION PAIN for the NOV EXPIRY lies in the zone of 10200-10300
All in all, I expect Nifty to bottom out in the zone of 10052-9996 followed by some consolidation or an immediate positive move.
Cheers!