BN possible minor correction if today's Low is broken

25 set

BN has rallied tremendously, all thanks to HDFC Bank as I had explained earlier in my posts!
While the overall trend still remains Bullish, there is a possibility of minor cool off if today's low i.e. 53792.85 is breached.
The immediate target would be 53,259.
However, this can be planned for next week's expiry.

30 set

Trade attivo

I had taken a Bullish Debit spread last week and had cut the loss making position of 54300 CE considering 1st Oct expiry.

I'm holding the Sell position of 54700 CE which is yielding good profit considering the fall in BN today. Will hold this till expiry.

I feel BN can fall till 52,900 level this week and then there could be some profit booking of shorts. Overall sentiment remains weak.

1 ott

Trade attivo

As I had mentioned earlier, BN has indeed fallen to 52,980 level and now is in oversold territory. We can anticipate some short covering to happen. I will hold the sell position till Expiry to collect all the premium.

Watch out for my next post on BN potential Long.