my premarket journal for 2/5/23
Market likely to open gap up around 18150 and likely to see resistance around that level and pull back expected till 18000.
There is huge Put writing at 18000 level and gapup opening might trigger sell off leading to fall in nifty.
ideal scenario will be going short at 18150-160 levels with sl at 18175 for targets of 18100/18050/18000.
if markets break 18175 and sustain on 15 min time frame, then 18250/18300 is possibility though unlikely on monday.
CE position only above 18180 with SL at 18150 for targets of 18260/350/425
Market likely to open gap up around 18150 and likely to see resistance around that level and pull back expected till 18000.
There is huge Put writing at 18000 level and gapup opening might trigger sell off leading to fall in nifty.
ideal scenario will be going short at 18150-160 levels with sl at 18175 for targets of 18100/18050/18000.
if markets break 18175 and sustain on 15 min time frame, then 18250/18300 is possibility though unlikely on monday.
CE position only above 18180 with SL at 18150 for targets of 18260/350/425
Comment:
MARKETS RANGE BOUND. DID NOT TAKE ANY TRADE FOR THE DAY AS PER SETUP