Nifty closed at 10946, very close to week opening figure 10961, recovering all weekly losses and ended flat.
If we note the high and low of 10746-961, 215 points is the difference. Before any upmove market likely to retrace upto 10810-20. One can expect a range of 10800-11141in the coming week. BN range 26800-27400.
Trade with caution.
Do not chase nifty on Monday as Tuesday happens to be a holiday.
Options trade- 10900 CE /26200 CE likely to give multiple returns if bought near 10820/26800.
Keep strict SL 5%.
Exit when nifty again crosses 10961, as 11k may be a stiff resistance and CE writers ptotect the level since it is too early to start a short covering.
Good luck!
If we note the high and low of 10746-961, 215 points is the difference. Before any upmove market likely to retrace upto 10810-20. One can expect a range of 10800-11141in the coming week. BN range 26800-27400.
Trade with caution.
Do not chase nifty on Monday as Tuesday happens to be a holiday.
Options trade- 10900 CE /26200 CE likely to give multiple returns if bought near 10820/26800.
Keep strict SL 5%.
Exit when nifty again crosses 10961, as 11k may be a stiff resistance and CE writers ptotect the level since it is too early to start a short covering.
Good luck!
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