Nifty is in celebration mode sgx indicating gap up and staying above 16770 should take NIFTY to new heights of 16900-50 making a very good monthly closing in euphoria. Bulls deserve such a feat . The next major round number 17000 might give us a little bit of a trouble and the same may be expected. How big might be the pullback would be interesting to see. A consolidation as expected in the week ahead might just come true if so.
Trade 1: Gap up sustaining and dips to 16770-80 to be bought with stops at 16740 for a target of 16880-930.
Trade 2: Short at 16880-870 with SL of 16950 for a minimum target of 16720. Short to be taken after reversal of 30-50 point from highs with similar stops.
options idea for tomorrow if trade 1 comes: Sell 16850ce buy 16700ce. SL 16750.
Trade 1: Gap up sustaining and dips to 16770-80 to be bought with stops at 16740 for a target of 16880-930.
Trade 2: Short at 16880-870 with SL of 16950 for a minimum target of 16720. Short to be taken after reversal of 30-50 point from highs with similar stops.
options idea for tomorrow if trade 1 comes: Sell 16850ce buy 16700ce. SL 16750.
Trade active:
To the moon. There is no short trade unless 16880 broken downwards. Lets buy the dip if at all we get one. And hold and trail later. This seems to be a starting of a wave 5 and can go deep upsides in the next few months. Shutupandbuy