Last Analysis, ATR is till in its own range. Stop loss was triggered at 11585 and lost 35-45 points lost.
Nifty can open the gap up 45-60 points up.
Profit booking expected 11724-11734 by Fund-Managers. Short seller and short term down trend direct will predict after 108 -ve points on the nifty only.
Gap up opening and selling pressure can be expected in 30 mints of opening.
Trialing stop loss for short seller 11748 and 11777
targets can be 11510-11479
BUY put of Nifty Future 11700 between 48 – 66,
For example, if i want to trade 10-lots,
- First trade setup @ Rs.66 with 3 lots
- Second trade setup @ 52 with 4 lots
- Last trade setup @44 with 3 lots
Targets are 122 first and then 178-196
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