Key Levels to Watch - 17670 & 17245
As expected, they're saying 'markets cheered the budget' :)
so..will the cheering continue or is it one time event? It all depends on which of the following levels are broken
Upside Scenario
Nifty breaks 17670. We can see Nifty inching towards 18000 and if that's broken, we'll see another All Time High.
Downside
If Nifty breaks 17245-17250. We can see Nifty inching towards 16500 pretty quickly.
Tomorrow is Wednesday, so watch out for Accelerated Time Decay - and this is mostly achieved during an engineered sharp drop or sharp rise.
If you're not a risk taker, better be on the sidelines until you see one of these levels broken. That said, you can make lot of money if you happen to be on the right side due to the volatile moves we're seeing.
Good Luck and STay safe.
Disclaimer
- The view expressed here are my personal views. We're not SEBI registered Analysts.
- Always have a STOP LOSS, particularly when you trade options.
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
so..will the cheering continue or is it one time event? It all depends on which of the following levels are broken
Upside Scenario
Nifty breaks 17670. We can see Nifty inching towards 18000 and if that's broken, we'll see another All Time High.
Downside
If Nifty breaks 17245-17250. We can see Nifty inching towards 16500 pretty quickly.
Tomorrow is Wednesday, so watch out for Accelerated Time Decay - and this is mostly achieved during an engineered sharp drop or sharp rise.
If you're not a risk taker, better be on the sidelines until you see one of these levels broken. That said, you can make lot of money if you happen to be on the right side due to the volatile moves we're seeing.
Good Luck and STay safe.
Disclaimer
- The view expressed here are my personal views. We're not SEBI registered Analysts.
- Always have a STOP LOSS, particularly when you trade options.
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
Penafian
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