AnantTrader

Nifty to retest 7500 level in April expiry

Short
NSE:NIFTY   Nifty 50 Index
1. April Derivative data suggest current 9000 level touch is at low volume , there is price - volume divergence.
2. Nifty unable to sustain at 9000 level
3> SL 9100

Use option bear spread to benfit from this move. Trade using future is not advisable as moves in this zone will be jettery.
Trade active: SL need to be change 9300 as there is gap up opening expected
1. RBI governer address.
2. Global markets jumped 2% and more.
3. Corona is just scapegoat of media, real reason will be seen once the corona phase is over.
Trade active: Keep the sL 9345 open price today's
Trade closed: stop reached: Trend line broke sl reached

Comments

7500 levels seems very unlikely - can you please share more data on which you have based your analysis.
Reply
AnantTrader duzduz406
@duzduz406,

Premise
1. Fall is more severe than 2008
2. Job less claim rised all time high in US
3. Its a dipression we are in not recession.
4. So if you look at dipression chart, index retraced as good as 10%-15%.
5. Current move is not supported by open interest.
It is declining contantly.
Reply
duzduz406 AnantTrader
@AnantTrader, overall I agree with the premise and hold a bearish view. however, 7500 levels in aprils expiry is unlikely. might see that towards may end or june.
Reply
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