downside channel up to 10575 has opened up. but this time I will buy put option of august expiry in special case.
I have predicted downtrend based on one time frame, which is still intact. but i have missed current uptrend based on another time frame,( which came to my knowledge later ,but it was too late). this uptrend will (most likely) end around 10830. my apology for those who have shorted nifty based on previous idea, who are in unrealized loss ( as i don't advocate...
nifty is available for sale up to 10550-10500 no stoploss only take care of m2m difference. may take some days to reach target
it is more like buyers anticipating some global relief. will see how far they can carry on amidst turmoil. no clear trend yet.
I will stay away from market, and wait till new trend emerge. till then enjoy market like football match. not advisable to use same strategy or levels for future trend.
chart prediction of downside trend up to 10600 is working well. this was fight between our patience and market.
Chart clearly shows, what we all know, option writer has upper hand than option buyer. Then why we risk our money by buying option ?
in any case rally is halted, will soon see 10600 any closing below previous day's close can be used to start position for safer side.
nifty has crossed major levels.please check chart for detail.
as we are approaching decisive levels tomorrow, I will post idea whenever it happens.
have patience, let nifty touch 10870-10880, we will decide there.
neutral to bearish view in nifty. will reach 10860-10875 before start landing to 10600.
shorting nifty is a good idea, but wait for 10900-10930, downside is up to 10600, all spot price