No doubt that market is going up and now NIFTY is slowly inching to the upper end of the range of 9670. One thing is clear, if you have taken the long positions yesterday, its time to move on. There will be a resistance again at 9670 area but what needs to be seen is whether NIFTY will cross or not.
Bank NIFTY is up for its weekly expiry and premium eating will happen at 23300 and 23400 put and call levels. 23300 put is at 30 rupees and 23400 call is at 60 rupees. so if both are shorted Bank NIFTY should stay between 22270 and 23460 band and any expiry between this range means the entire premium from both put and call is yours.
|Petrol prices went up by 10 to 12 paise from yesterday. Prices in the brackets are yesterday’s prices.|