So i again became wrong in some way. I was expecting Nifty to take support around 11180 or at most 11050. It went all the way to 10866, however closing came again in my zone.
Today's panic low to me because of triggering of some margin calls. 11200 was having highest OI before the fall and fall just triggered the stop loss of 11200 and then 11000 PE sellers and in a panic mode we moved to 10866 and then strong short covering led to recovery.
This happen to my earlier view that fifth down wave could extend higher and we moved beyond 161.8% extension almost 261.8% but then recovered.
Now at cmp of 11143 support at 11050 and then 11000. In this expiry we will not break 11000 so in next 4 days at any opportunity to 11100 buy with stop loss of 11000 for target of 11220-11250-11300.
Nifty trend from down to up will change only a close above 11360.
Disclosure: I am not a SEBI certified analyst and this is just and educational post so please take your own decision before acting on this call. Further i do hold some Nifty options.
Today's panic low to me because of triggering of some margin calls. 11200 was having highest OI before the fall and fall just triggered the stop loss of 11200 and then 11000 PE sellers and in a panic mode we moved to 10866 and then strong short covering led to recovery.
This happen to my earlier view that fifth down wave could extend higher and we moved beyond 161.8% extension almost 261.8% but then recovered.
Now at cmp of 11143 support at 11050 and then 11000. In this expiry we will not break 11000 so in next 4 days at any opportunity to 11100 buy with stop loss of 11000 for target of 11220-11250-11300.
Nifty trend from down to up will change only a close above 11360.
Disclosure: I am not a SEBI certified analyst and this is just and educational post so please take your own decision before acting on this call. Further i do hold some Nifty options.
nice article thanks for sharing
ReplyDeleteprecious metals free commodity tips