NIFTY TREND

Nifty has closed below 12259 decisively on a truncated week with only one day to go for monthly expiry. Last Thursday, all CEs above 12250 strike price was sold like hot cakes with exorbitant premium has been reduced to pennies as the direction has changed totally.  

Trading strategy for the day : 

If Nifty is able to keep its head above 12259.70 - being previous expiry close number for more than an hour, then there are possibilities to move near 12293. An hourly close below 12211 pulls the nifty down to 12131.30. 

Since this is the last expiry of the year, market is near All Time High, sharp fall may not be possible. 12182 being the fresh high above previous high of 12158 act as a strong support. We may expect a bounce back from 12130-40 to 12182 today to resume uptrend after expiry to 12367. This is the monthly target. 

Trade with caution. 

நீத்தார் பெருமை - The Greatness of Ascetics

குணமென்னும் குன்றேறி நின்றார் வெகுளி

கணமேயும் காத்தல் அரிது.      #29

மு.வ : நல்ல பண்புகளாகிய மலையின்மேல் ஏறி நின்ற பெரியோர், ஒரு கணப்பொழுதே சினம் கொள்வார் ஆயினும் அதிலிருந்து ஒருவரைக் காத்தல் அரிதாகும்.

The wrath ’tis hard e’en for an instant to endure,

Of those who virtue’s hill have scaled, and stand secure.

The anger of those who have ascended the mountain of goodness, though it continue but for a moment, cannot be resisted.