Today it was turbulence in the market. After opening in the green both the indices - sensex and nifty end in red. Now sensex is below 17000 and nifty is just holding above 5000.
Bank index was down almost 3%.
Now what is next??
All the expected news/triggers have already been priced into the market.
Like,
- IIP data
- Inflation data
- Advance tax collection
So there's no trigger for market to break any of the side. We are still into 5000 - 5180 range.
Also global cues are supportive as U.S. Markets are making new highs.
Now we are near to support zone – lower end of trading zone. Trader should go long in the market. All such deep into the markets are buying opportunity.
For the market strategy I'll advise to buy DEC 5100 CE at around 70 rs.
Keep the long position open till nifty breaches 4960.
Happy Trading !!
No comments:
Post a Comment