Index which took a big rally yesterday seems to have taken rest and traded in a very narrow range through out the day.
Especially BNF disappointed all those who have bought at a penny price and holding it for big gains today.
After a big fall around 3 pm, BNF climbed up to 24300 to close at 24295. This kind of volatility on expiry day makes call and put option to multiply many folds.
If Nifty Future above 9960 and BNF above 24450 on a daily close basis then one can initiate long position for targts 10060 and 24900 respectively. This will give an impression of trend reversal and make investors confident of going long. But be very cautious at this level.
Happy trading!
Thanks Sir.Wish you all the best.
ReplyDeleteOnly above these levels you should try call options. Patience pays!!
ReplyDeleteOK Sir.Today pivot of Nifty spot and Fut is almost same.What may be the consequence please.
ReplyDelete