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11 September, 2008

Nifty at the end of the triangle= +/- 300 points

Yesterday markets traded down word and closed at Nifty 4400 ie., exactly at the end point of  the triangle.  FII data, Nifty O I, option writing, Asian markets were all - ve. Dow was just +ve.  The heavy buildup in nifty oi and fii short position in index futures shows that the swing of Nifty from this point towards downside only.  4300 put options will fetch us more profits. If due to any reason markets crosses 4400 up side then go for buying calls 4600. (May not be necessary)

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