Nifty and Bank Nifty cooled off after making new highs on the expiry day. The December expiry started with a negative note. Day started with a mild negative and the loss got extended up to 135 points during the day touching 12017. The last 30 minutes recovery saw nifty above 12056.
In the process, the close is below all the three top numbers - 12103,12138, 12158.
As long as nifty and bank nifty hold 11975 and 31350, the trend is intact one should not react too much to news based moves.
Nifty should take support at 11880-11920 range. Shorting at this level is suicidal. I expect this expiry to be negative, but a close should be between 11970-12020 is what is written on the wall.
Good Luck!
PS: Those interested in Options segment should understand the importance of numbers before taking a quick decision. You have to be more vigilant during gap up and gap down situations. Avoid chasing the price. Wait for your price. Otherwise you will pay heavy price.
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