OR it has done a 3 as in "a" and still it can go on a rally to 5090-5110 or more.
OR it may struggle to move up to 5050-5060 and crossing it to 5075-5085 and can come down for the 5th too.
OR it may get resisted @ 5040-5060 area and fall down to make a new low below 4968 and start rallying up from there.(Ideal, I prefer..)
And so many possibilities..Hence, it was suggested to close the shorts atleast partially in the closing hour. 5010 is crucial today..
Conservative: May book @ 5000-5010(optional) and reshort @ 5080 & above with a Sl @ 5125. OR simply hold the shorts.
Aggressive: Trade the 5010-5020 base to 5050-5060 or 5075-5090 move.(Trade Short below 5010).
All in all, trade light.. Below day's Pivot @ 5011, it will turn weak.
(I may not be available)
4 comments:
Dear Ilango,
I have a nifty long 50 at 5020 with 200 5100 calls sold as hedge at 17, when should I exit my long ?
Cheers
Kapil
Hi Ilango.
Good Morning.
I continue to hold the SBI Oct Short without booking out last Friday. Kindly advise What levels do you advise I book out?
Hi..Kapil,
Nifty future long @ 5020, exit @ 5050-5060 zone or higher @ 5080. I need to see the developments.
5100 Calls - Keep a Sl of 5065NS.
Hi..Mayur,
I do not follow SBI hour charts. If you are in profit, book. Or have some trailing SL to lock in some profits and ride it down to 2275...or lower.
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