Nifty with today's close gave a bearish candlestick pattern on a 'weekly' basis which tells us that it will break 11400 in the coming week and move towards 11350. One may sell Nifty on rise with SL of 11575 and targets of 11400/11350. The Bank Nifty has also given the same kind of pattern and hence the downward move will have help from the banks as well. So a...
Hi All ,
No naked put/call buy /sell , no over leverage
Nifty is in upmove , any pullback will be buy ,
Down side support 11450/11340/11230 , upside targets 11660/11750/11875
Use following strategy :
Buy 11300 APR put @ 120 , 1 lot
Sell 10600 APR put @ 24 , 2 lot (Aggressive traders can sell 3 lots)
Buy 11500 APR call @ 224 ,1lot
Net debit on put is 72...
As Nifty travels towards the previous top 11752, bulls will be careful. Consolidation is expected. Generally BN takes a lead. Nifty can also make a breakout from the level of 11752 taking price to new highs.
Third layer and CPR above than the previous week's -> BULLISH
CPR and third layer pivot width is narrower than previous week's -> TRENDING
1.) If index opens above L3, if will touch H3 once.
2.) If index opens below CPR, there may be huge sell off.
Dotted Dark Blue Line - CPR
Dotted Light Blue Line - CPR of Previous Timeframe
Dotted Pink Line - H1,H2
Dotted Brown Line - L1,L2
Black Line - R1,R2(Standard Floor Pivots )
Green Line - S1,S2
Pink line - H3,H4,H5
Brown line - L3,L4,L5
The third layer is BELOW the previous day's -> Bearish outlook
Both pivots and third layer are narrower -> Trending
What a clear cut negative divergence is being reflected on 15,30,45 and 60 minutes RSI (14). Profit booking is likely and it should be steep to make you doubt on the strength of rally. 11170 should be the level to see in coming 8-10 sessions. Premium of 11300 and 11400 put is too low which suggests market has completely written off downside possibility