A powerful Blow to the Bull....&... Also quick gains today by selling at the resistance.
As expected NF rallied the day before yesterday owing to the Infy Expectation.And today the Result was out and Infy dropped like a pack of cards. With the Result season kicked by Infosys we have got a glimpse of the earnings season. I expect earning to be downgraded and thus the market may too fall aggressively owing to the results.
For Monday Resistance lies at 5860 above which again a dash to 5920-5925. On the contrary Support lies at 5820 and below it we would get 5750.
On the options side today i have watched Buying in 5100-5200 PUT April Series. It cannot be selling as just 9 days to go for expiry and such far puts cannot be written. Even the big players know that in almost 700 point far puts there's no meaning in writing. Thus the Assumption that this is buying. Something Big is waiting for us next week.
Still Reamin Short only.
As expected NF rallied the day before yesterday owing to the Infy Expectation.And today the Result was out and Infy dropped like a pack of cards. With the Result season kicked by Infosys we have got a glimpse of the earnings season. I expect earning to be downgraded and thus the market may too fall aggressively owing to the results.
For Monday Resistance lies at 5860 above which again a dash to 5920-5925. On the contrary Support lies at 5820 and below it we would get 5750.
On the options side today i have watched Buying in 5100-5200 PUT April Series. It cannot be selling as just 9 days to go for expiry and such far puts cannot be written. Even the big players know that in almost 700 point far puts there's no meaning in writing. Thus the Assumption that this is buying. Something Big is waiting for us next week.
Still Reamin Short only.
Dear Nimesh,
ReplyDeleteThere is nothing in 5100 or 5200PE, all are gone in Bhavcopy.
And yes, there is weakness in OI Table.
Thanks & Regards
Sanjay
Hi,
ReplyDeleteDid not understand the meaning of 5100 PE or 5200 PE. Kindly explain. Yes makes sense now to be short with today's high as the SL.
Best would be to cover the shorts around 5750 level. next week to watch out will be crude levels as other commodities