Bias for Friday: I expect positive day scaling to new highs. There is no real overhead resistance that I see. So NIFTY can jump the red zone very fast or consolidate a little bit. If it's a largely positive day, gap up 1%+ and then holding that gap for rest of the day, some mild profit booking is logical before traders on the long side take some profits before the weekend.
I have bought 14400/14500 CE debit spread @ 38.80 Rs. SL is close or trading 1 hr below 15150. I expect to hold this till Monday morning.
I have bought 14400/14500 CE debit spread @ 38.80 Rs. SL is close or trading 1 hr below 15150. I expect to hold this till Monday morning.
Trade active:
14400/14500 CE debit spread @ 38.80 Trading at 52 Rs. 975 profit
Trade closed manually:
As expected mild profit booking near eod. I too exited the position @ 46.5 Rs. As per original plan Carrying the position till Monday morning was the plan, but its better to take profits when available and before weekend.