Nifty is taking support above 16500 highest put OI strike, but I don't think that it can move above 16800
I would suggest to short nifty near 16650-16700.
NOTE:- If you are playing reversal or expecting a bounce, avoid through calls because if vix move down call price will also fall and decay very fast.
I would suggest to short nifty near 16650-16700.
NOTE:- If you are playing reversal or expecting a bounce, avoid through calls because if vix move down call price will also fall and decay very fast.
Comment:
90+ points profit in 30mins, one can do partial profit booking or hold for target if 16500