Good Morning
I could somehow see that the markets might correct but I couldn't find logic. So, I decided to stay away.
Now, Nifty 50 has support at 15043.70 and resistance at 15170.85 so the risk to reward ratio changes today.
15100 is a crutial level. Open Interest in 15100ce is 2938350 and 15100pe is 2517450. We will see a new upside once we cross and sustain above 15100 levels.
15000 is a strong support as 15000pe has an Open Interest of 3003600 which is quite amazing.
So yes, we buy again between 15000 and 15100 levels with a stop at 14900 and targets will be 15200 / 15300 / 15500
I could somehow see that the markets might correct but I couldn't find logic. So, I decided to stay away.
Now, Nifty 50 has support at 15043.70 and resistance at 15170.85 so the risk to reward ratio changes today.
15100 is a crutial level. Open Interest in 15100ce is 2938350 and 15100pe is 2517450. We will see a new upside once we cross and sustain above 15100 levels.
15000 is a strong support as 15000pe has an Open Interest of 3003600 which is quite amazing.
So yes, we buy again between 15000 and 15100 levels with a stop at 14900 and targets will be 15200 / 15300 / 15500