Hello traders
1. Clearly it's been almost a month that nifty is travelling in that blue parallel channel. Till the time it doesn't break the channel downawards don't take put. I know retailers are getting restless for taking puts or short position, many of you might have already taken and averaging it. But till the time chart doesn't say I would not recommend to buy put. In fact if today nifty opens gap up and doesn't fill the gap which it seems then more upside is left. So it's still buy on dip market.
2. Nifty opening above black trend line and taking support will take it further up, but don't play in today's expiry because a good gapup will cause nifty to move in range only, and mostly premium decay will be there.
Option buyers have to wait for the right time. Always find a good risk to reward trade. Best of luck and do follow.
1. Clearly it's been almost a month that nifty is travelling in that blue parallel channel. Till the time it doesn't break the channel downawards don't take put. I know retailers are getting restless for taking puts or short position, many of you might have already taken and averaging it. But till the time chart doesn't say I would not recommend to buy put. In fact if today nifty opens gap up and doesn't fill the gap which it seems then more upside is left. So it's still buy on dip market.
2. Nifty opening above black trend line and taking support will take it further up, but don't play in today's expiry because a good gapup will cause nifty to move in range only, and mostly premium decay will be there.
Option buyers have to wait for the right time. Always find a good risk to reward trade. Best of luck and do follow.
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