Sunday, 7 October 2012

NIFTY VIEW



As per Nifty weekly and daily charts we can clearly see nifty is in an overbought zone.Closely looking at daily chart we can see technical indicators like RSI, Parabolic SAR and Candlesticks(Bearish Engulfing with increase in volumes) giving a sell sign and while looking at the weekly chart Bollinger Bands(very close to the upper tip of the Bollinger Band),ParabolicSAR,RSI are giving sell signs.
So i expect Nifty to correct a bit,in that case one can SHORT SELL NIFTY OCTOBER 5700 STRIKE CALL @ Rs120 AND BUY BACK @Rs100.One can also SHORT SELL NIFTY NOVEMBER 5800 STRIKE CALL @ Rs 140 AND BUY BACK @ Rs.120.
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2 comments:

  1. Unknown8 October 2012 at 11:31

    NIFTY OCTOBER 5700 STRIKE CALL made a low of 73.25 and closed at 73.25. Target achieved..:)

    ReplyDelete
  2. Unknown8 October 2012 at 11:33

    NIFTY NOVEMBER 5800 STRIKE CALL made a low of 94 and closed at 94. Target achieved..:)

    ReplyDelete

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