Go long on Nifty as the sentiment of Bullish have changed and they are now trying to take control of the market as three consistent Green Candles with Gap Ups have been spotted, MACD is also about to give a Crossover as the MACD line is forming a Curve towards the upside.
Option Chain Data suggests Very Heavy Call, as well as Put writing at 12100 levels which may act as an indecisive zone and some consolidation, can be seen in the markets.
Inflation Data may increase Bear's Confidence and Sentiment of the market may change immediately.
So as long as Nifty is below 12100 zones I am moderately Bullish on Nifty so Go Long in Cash Market with a StopLoss at 12086.7 that is Today's Closing price with the first Target at 12100 levels and Second target at 12159 level which is Nifty's all-time high and Sell a Call of 12200 levels as after 12100, next Resistance is at 12200 levels with a StopLoss of 13 BPS in this manner our Downside Risk will be protected and whichever direction market moves in we will be profitable.
If 12100 level is sustained and if the Sentiment continues to be same at that level then Spinning Top Candle with Moderate body may be formed but the probability of happening that is very less.
Happy Trading.......
Option Chain Data suggests Very Heavy Call, as well as Put writing at 12100 levels which may act as an indecisive zone and some consolidation, can be seen in the markets.
Inflation Data may increase Bear's Confidence and Sentiment of the market may change immediately.
So as long as Nifty is below 12100 zones I am moderately Bullish on Nifty so Go Long in Cash Market with a StopLoss at 12086.7 that is Today's Closing price with the first Target at 12100 levels and Second target at 12159 level which is Nifty's all-time high and Sell a Call of 12200 levels as after 12100, next Resistance is at 12200 levels with a StopLoss of 13 BPS in this manner our Downside Risk will be protected and whichever direction market moves in we will be profitable.
If 12100 level is sustained and if the Sentiment continues to be same at that level then Spinning Top Candle with Moderate body may be formed but the probability of happening that is very less.
Happy Trading.......
Trade closed: target reached:
Nifty rallied in the early hours of Market opening and our first target was achieved also we made close to 30 rupees of premium on 1 lot by selling Call Option of 12200 Strike Price so now its time to close our trade as we have made enough profit
Comment:
Although Red Candle was formed with a higher high and higher low, MACD is still as it is and about to show a divergence so no need to worry as Bulls are still Confident but Option Chain Data shows 12100 as very Strong Resistance by Call writers, therefore this trade was Squared Off but if anyone would like to hold is please go forward.