Down side trade put buy If market breakdown 40530 level it may come down to first 40400 and thereafter 40200 level.
Downmove
Going to end this month, Crazy expiry.Look at the chart and see where we are now and how we started this month. This month started with a positive note and kept moving up and up. It is a clear up trend. It took a nifty 14 days to reach 18350. Just five days to keep the nifty dragged down. We have multiple global news sources to follow the down move. But think about the option sellers who hold long positions, vix shoot up to 20+ all eyes on US fed meeting. let's see how it is going to end this month. It is very important that where nifty is going to open on Thursday, we have important levels to watch above 17350,17500,17550 below 17200 major level 17000,16800.
I have 17650 CE and 16550PE as well. I will keep book my profit already in 16100 PE and 18050CE, with 17950CE near 0.5%. My plan for Thursday is for the nifty to move up. I will keep 17650CE till the nifty crosses 17550-17500. Keep my PUT up. If it goes down, I will bring my CE down and adjust PE as needed. if there is a gap up or gap down opening above 17550 my limit, and below 16800 I will make adjustments accordingly. If things go well, I hope to exit with a profit.
