Nifty opened with a gap-down around 16257 and we saw a good upmove in the first half which took Nifty towards 16400 but Nifty again faced the rejection and we saw a free fall in the second half.
Trades we took today -
> Bought Nifty 16500 CE May Expiry at 190 which we booked at 225 with 35 points profit
> Bought Nifty 16200 CE at 200 which we booked at 188 with 12 points loss
> Bought Nifty 16350 PE at 175 but booked at a cost due to choppy movement
Overall, Nifty Option buyers booked a small profit.
Tomorrow, if the Nifty breaks 16140 on the downside, we expect to see a down-move but keep small targets as 16000 will act as psychological support.
Expectations for Tomorrow: Volatile day.
Intraday Levels:
Buy Above - 16270
Sell Below - 16140
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
Trades we took today -
> Bought Nifty 16500 CE May Expiry at 190 which we booked at 225 with 35 points profit
> Bought Nifty 16200 CE at 200 which we booked at 188 with 12 points loss
> Bought Nifty 16350 PE at 175 but booked at a cost due to choppy movement
Overall, Nifty Option buyers booked a small profit.
Tomorrow, if the Nifty breaks 16140 on the downside, we expect to see a down-move but keep small targets as 16000 will act as psychological support.
Expectations for Tomorrow: Volatile day.
Intraday Levels:
Buy Above - 16270
Sell Below - 16140
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
Trade closed: target reached:
Sell Trade Triggered, All Targets done.
