Why I went short on NIFTY today.

Dec 31, 2020

Considering the confluence of multiple signals, I bought NIFTY 13600 PUT. I'll hold it till NIFTY touches 21 EMA.

• NIFTY is closer completing 6th straight week of gains.
  
• 3 months without significant correction.
  
• New year and new series starting from tomorrow.
  
• Result season kicking off. And it may set expectations about future growth.
  

Stop Loss : NIFTY not showing any signs of breaking down in next 3 weeks.