Nifty view - 21 December 2023

We could see a massive profit booking in Nifty yesterday. I was not active for a few days and will also not be very active in options. However, I'll be there in cash markets.

Today, we see record volumes with vix almost 14.5, making it perfect for buying and selling. I've marked the levels where I'll go long or short. For now, I'm neutral in the market and have sold appropriate options for today's expiry. Also, I would not recommend going long or short in today's expiry as it is very risky.

Comment:

Be cautious long. Before taking a long trade, there should be a pullback. I have two straddles at 21150, and 21250 is still up. I will hold the straddles until 21255-21260 and convert them to longs.

After the confirmation, I will go long. Else I shall buy.

Comment:

I'll be removing 21150 calls around 21230

Comment:

Closed 21250 calls as well

Trade active:

Going long in BNF