Nifty initially tried to fill the gap. This attempt was failed.
Then the momentum was reversed on the downside. The 8900 Call was sold at 145 Rs for risk of 2000 Rs.
The call was later covered during the day.
this is my view on nifty for next week.
below EMA 50 and the 8500 support that we have if it breaks 7100 is the target for me .
follow the chart for all the price action .
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Before Market opens
1. US Markets were up 6%
2. All Asian markets up
3. First Large Gap up above resistance and previous high.
This was a chance trade with high risk. Because if this gap holds during the day, then it becomes turning point for the market as it eats up many shorts aggressively.
Closed the trade with loss as the gap did not hold.
Brent Crude has taken support from a rising trendline. We could also see a "Morning Star" candlestick pattern adding to bullish bias. But 63.60 is an immediate resistance which will test the strength of Bulls. If price manages to break above 63.60, we can well expect crude to move towards 65.50. However, if the upward move gets arrested at 63.60 and manages to...
As per the previous updates on the blog & other social media that Gold will soon HIT $1285. Today trading at $1285, So further in this week. If closes below $1275 Then the further move will towards $1257 & $1244. So, For Bears Today is a Good day to book there shorts with $60 points & sit relax for a new entry. For Bulls they can put the stop loss of closing...
CUMMINSIND has gained 3.16% on NSE with 3.45 times its average volumes supporting fresh long positions in FNO segment on NSE. The stock is in an uptrend trading above ichimoku.
Take a JAN Positional Long on this stock in Options. Please consult your financial adviser before investing.
BUY AT : 848
Target 1 : 890
Nifty Option Data Shows that max put OI at 10200 and Call OI at 10500.
I don't think nifty will go upto 10500 till march expiry. But a Bounce Back will expected upto 10473.
This Option Call valid only for 1 week.