After consolidating in last few days market today gave a breakout @ 10816 levels.But we got a confirmation after nifty broke 10835 levels.
I expect this trend to continue in next few days. However stop loss to all long positions should be placed at 10735 levels it is the hourly 50 ema.A drop below that level will nullify the trend.
When this type of breakout happens one can take long positions in nifty by purchasing out of money or in the money call options.With a view to hold for few days.
I expect this trend to continue in next few days. However stop loss to all long positions should be placed at 10735 levels it is the hourly 50 ema.A drop below that level will nullify the trend.
When this type of breakout happens one can take long positions in nifty by purchasing out of money or in the money call options.With a view to hold for few days.
No comments:
Post a Comment