Volatile start for the week!
Gap up- downward trend in the first half - closing in positive.
Currently, we can see a symmetrical triangle and breakout/down can happen, with the immediate range of 16587 and 16373.
21 and 55ema are also closing in.
Option buyers should stick to buying ATM strikes and should maintain tight SL
Certainly Not ! Because, usually I post out Nifty before 9.15 am & its not the same today. Not a prob, but are we right on Timing the Nifty to our expected zones ? Well, Nifty needs to tell Me that.
Just based on few presumptive reasons, I ascertain Nifty will reach out to 9750's zone between May 31 - Jun 2 & I may be completely wrong. Honestly, in My opinion...