The Index has been playing a see-saw game with 100 plus or minus. The Volatility Index also witnessed a historic high of 14% plus. Despite all these the index managed to stay above 9800 and inching towards 9900 clearly indicates the index management.
Be long only when Nifty closes above 9920 and BNF above 24475 on a daily basis. Till such a time the moves are sideways.
Close below 9875 and 24300 for NF and BNF means still there are chances of down trend. But index must breach 9700 and 24000 on a daily close basis to see nifty drifting towards 9350 and BNF 22500 levels. This will happen when the fall is least expected.
Options strategy: Puts are out of buy mode. But Calls have not also come under buy mode. This means the trend is not set on either direction. Stay away from options where premiums erode during the last week of expiry.
Happy Trading!
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