Nifty first instance has taken a fall from the opening levels. Again if you see the chart we see it respected 21 day EMA.
In my yesterday's post I had mentioned that Nifty first needs to protect 18114-18080 odd levels and my first take would be Shorting Put options. Accordingly 25 Jan expiry Put short has been initiated at 140
The same has been updated in my yesterday's post at 9:34am.
Now Nifty needs a close above 18244-18262 odd levels on hourly candlestick basis...
We wait patiently and let's see what we have got in store now...