Last month nifty moved all over the places from 21900 to 22500 and finally closed at 21300.
April and may is a election season. Market may react for the news ,immediate ups and downs.
according to technical nifty looks positive and
for the upside target
22500 and 22839 according to the fib retracement.22500 already tested 2 times. if its breaks once more ,we can see 22839 as next target.
for downside 22000 acts as major support. we can consider bearish only if it closes below 21850.until it is bullish view.
for this election season, its better to do calendar spread instead of going naked CE or PE selling.
April and may is a election season. Market may react for the news ,immediate ups and downs.
according to technical nifty looks positive and
for the upside target
22500 and 22839 according to the fib retracement.22500 already tested 2 times. if its breaks once more ,we can see 22839 as next target.
for downside 22000 acts as major support. we can consider bearish only if it closes below 21850.until it is bullish view.
for this election season, its better to do calendar spread instead of going naked CE or PE selling.