Feb 2020 Expiry Week -- Nifty Trend
The fear of "CaronaVirus" crossing China borders and the concern of economic slowdown is having an adverse impact on global indices and the same effect is being witnessed in NIfty50. NIfty has already corrected by 200 points in last 2 days and closed today (02/25/2020) at 11814.35 (spot). 11780 will act as crucial support followed by 11700 as final support. If 11700 level is broken we can see nifty slipping towards 11630/50 zones.
At this point in time, per options data, it looks like 11700 would act as support for this expiry (27th Feb 2020) for Nifty. Keep a watch at this level and enter into trade on any one of either side. Trading in this kind of market without hedging will be suicidal. Hence, it is suggested to trade with hedging.
Note: I am not a registered SEBI Research Analyst. Sharing the observations per educational purpose only. Please hit on "Follow", to get notifications of my latest observations...
At this point in time, per options data, it looks like 11700 would act as support for this expiry (27th Feb 2020) for Nifty. Keep a watch at this level and enter into trade on any one of either side. Trading in this kind of market without hedging will be suicidal. Hence, it is suggested to trade with hedging.
Note: I am not a registered SEBI Research Analyst. Sharing the observations per educational purpose only. Please hit on "Follow", to get notifications of my latest observations...
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