The last expiry of 2017 is eagerly awaited. But it all looks like the expiry move has already been over yesterday with nifty futures drifting down from 10566 level.
That was the first target of Dec 2017 and the second target is 10634. The second target is possible only if NF holds above 10567. We have two more sessions and let us see whether index is going to keep the hopes alive.
Today expiry is likely to be around 10470-520 as OI build up in 10500 suggests a close below 10500. Bank Nifty futures negated the up move above 26000 and has clearly indicated a close between 25450-25650.
Tips for Options trade. Focus on 25500 CE and buy when BNF trades below 25400. This could give multiple returns. Also focus on 25400 PE and buy when BNF trades above 25550. Exit when it doubles.
If BNF trades above 25575, DO NOT SHORT. Similarly NF if it trades above 10530( previous high) do not short. Nifty futures is short only if it goes below 10476.
Nifty Options tips: Buy 10500 CE @ 12.25 with SL 5.00 for target 28/36. Buy 10500 PE @ 8.65 SL 2.00 for target 39/45/50/68.
Happy Trading!
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