Nifty - five days, approx. 400 points rally - what next ??
Nifty as expected has been going up for past five sessions, it has climbed almost 400 points, ever since it has reversed last week.
A small pull back or some consolidation can be expected, specially after the DOJI candle, that was formed today.
Tomorrow is also Weekly Options Expiry day and Option Chain data suggests settlement between 11400 and 11500, There is a strong possibility of Nifty settlement around 11450 level only, keep an eye on Options' open positions changes for a confirmation of this, by 1:00 or 1:30 P.M., it will provide clear signal.
Buy on Dips, keep 11400 as stop and book profit near 11500.
Seasoned traders may sell 11500 and above Calls or 11400 or below puts, on confirmation of either direction.
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A small pull back or some consolidation can be expected, specially after the DOJI candle, that was formed today.
Tomorrow is also Weekly Options Expiry day and Option Chain data suggests settlement between 11400 and 11500, There is a strong possibility of Nifty settlement around 11450 level only, keep an eye on Options' open positions changes for a confirmation of this, by 1:00 or 1:30 P.M., it will provide clear signal.
Buy on Dips, keep 11400 as stop and book profit near 11500.
Seasoned traders may sell 11500 and above Calls or 11400 or below puts, on confirmation of either direction.
Please hit LIKE button if you find this post worthy. You may also consider Following me, for periodic updates on #nifty.