Today we are seeing people exiting from Call options and entering Put options.
In my morning post, we had mentioned Nifty PCR at 0.72 signifying oversold conditions and that Short trade should be carefully taken.
We had mentioned the level to short and accordingly given exits also. We had highlighted the level of 17096 in morning to short and at lower levels when Nifty was 17020 we suggested to book profits.
Trust the analysis helped.
We observe Nifty trading in a downtrend channel since 6 Oct 2022.
For tomorrow's expiry we would be watching and following the channel.
Important levels on the upside
17160 /
If we see a breakout of channel on the upside then further targets 17220 / 17260/ 17278
Important levels on the lower side
17080 / 17037 / 17006 / 16980
Trade accordingly and have realistic expectations.
Take care & safe trading....!!!
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Disclaimer
-The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- I have been wrong in the past and can be wrong again in future too
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
In my morning post, we had mentioned Nifty PCR at 0.72 signifying oversold conditions and that Short trade should be carefully taken.
We had mentioned the level to short and accordingly given exits also. We had highlighted the level of 17096 in morning to short and at lower levels when Nifty was 17020 we suggested to book profits.
Trust the analysis helped.
We observe Nifty trading in a downtrend channel since 6 Oct 2022.
For tomorrow's expiry we would be watching and following the channel.
Important levels on the upside
17160 /
If we see a breakout of channel on the upside then further targets 17220 / 17260/ 17278
Important levels on the lower side
17080 / 17037 / 17006 / 16980
Trade accordingly and have realistic expectations.
Take care & safe trading....!!!
Like and Follow
Disclaimer
-The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- I have been wrong in the past and can be wrong again in future too
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
