Up to the Limit But not Beyond the Limit ....
Today too a bullish day but the momentum is lacking.The reason being it was a tiring move till noon.The rally which culminated was just because of the crude retracement.So today's rally cant be concluded as a bullish one. Crude has a target of $127 and it has to reach that level in march to satisfy the ego of OPEC countries. And the carnage awaits in Indian and Global markets.
For tomorrow 5565-5575 is the congestion region and also the resistance. So any move beyond these levels will give a nice 60-70 point rally till 5620 -5656 at the max. On the other side below today's low of 5477 NF we can expect 5420 in a single stretch.Tomorrow too will be range bound movement between 5585 and 5420 in my opinion so buy the declines and sell the resistances..
Its a delight for day traders now.
so do you think when nifty comes at 5650, it is wise to buy 5000 put. is your target 4800 for nifty is for march itself.
ReplyDelete@Rajnish Kumar ...
ReplyDeleteI would suggest to buy 5600 - 5500 - 5400 puts as 5000 puts are out of money puts and time will decay the premium ... Today is 4 th march so we are at a top at 5620 - 5640 and eventually form monday will be grindgin down