Nifty futures and bank nifty futures could not move any further and closed near previous day close with a negligible gain. In my previous posting I have indicated the exhaustiveness of the index on 4 hour candle. There could be a similar move in the first half of the day tomorrow and one can expect a violent move in the index by afternoon. In all probability it could be in the north direction as 10300 is acting as a very strong support. Put Writers wont budge and ensure that index remains above 10300 only.
We congratulate Mr Srinivas who picked the 10400 and 10300 CE at the suggested price in the morning and sold it for handsome gains. 10300 CE Entry at 89.40 and sold at 105. 10400 CE entry at 42.85 and sold at 49.
Market gives enough opportunities. How we pick and how proactive we are is all matters. That is simple if you do home work and prepare yourself for a pick at the right time.
Tomorrow watch index closely. If Nifty future is able to close by 1.00 Pm above 10389.50, then we will be able to see fire works in BNF as well as nifty. Only if this happens, one can go for BNF CEs.
Nifty as explained earlier is range bound - 10320-10390. Bank Nifty 25560-26200.
Happy Trading!
Sir, Why opening trade is so important?
ReplyDeleteOpening trade gives you the direction and you can infer the close if you watch first 15 minutes closely.
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