Today Nifty Future touched a low of 9825 and bounced back above 9900, but due to bearish conditions, ended at 9857, 20 points below previous day close. Bank Nifty also touched a low of 24060 and recovered more than 230 points in the mid of the day but ended at 24193, 10 points lower than the previous day.
The good part is that the velocity of downward trend has reduced and nifty shows signs of recovery during the day which was not seen during the last 2 sessions.
Unless nifty future closes below 9700, we cannot go for a positional buy on Puts. This is a no trading zone and one must exercise patience under these circumstances.
Both nifty and BNF ended with a discount. There has been a deliberate attempt to push the prices of Puts during the last 15 minutes.
Happy Trading!
Wait and watch for right time.
Sir any view for the expiry day
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