Nifty opened with a Gap-up above our Buy Level 16800 and faced resistance in the 16900 zones which brought Nifty near to 16820 and Nifty went high from that level.
Trades we took Today:
> Bought Nifty 17050 PE at 170 which made a high above 220 and Traders booked great profit in this Trade
> Bought Nifty 16700 CE at 205 which we booked with 25 points loss
Overall, Nifty Option Buyers booked profit on such a choppy day.
Tomorrow, if Nifty sustains above phycological level 17000 we can see a short-covering upmove.
Expectations for Tomorrow: Range-bound Day, Volatality after 1:30.
Intraday Levels:
Buy Above - 17000
Sell Below - 16880
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
Trades we took Today:
> Bought Nifty 17050 PE at 170 which made a high above 220 and Traders booked great profit in this Trade
> Bought Nifty 16700 CE at 205 which we booked with 25 points loss
Overall, Nifty Option Buyers booked profit on such a choppy day.
Tomorrow, if Nifty sustains above phycological level 17000 we can see a short-covering upmove.
Expectations for Tomorrow: Range-bound Day, Volatality after 1:30.
Intraday Levels:
Buy Above - 17000
Sell Below - 16880
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
Comment:
Gap-up Opening and no Trade as per Set-up.
