As analyzed in previous ideas that nifty is looking weak and looking for call options would be dangerous.
1. now if nifty opens gap down which it seems, then look for any pullback towards 17080-17090 area to short it again for a target of 16700 with a sl of 17120. If sl hits then wait for market to go up to 17450 , then short it again for a target of 16900.
2. Don't look to buy call option in a bearish market. That's a very bad habit of a retail trader. If sl of 17120 gets hit then also don't look to buy call options for a target of 17450, better would be to wait for the market to reach 17450, then again look to short.
3. don't chase gap down if market doesn't give a pullback.
1. now if nifty opens gap down which it seems, then look for any pullback towards 17080-17090 area to short it again for a target of 16700 with a sl of 17120. If sl hits then wait for market to go up to 17450 , then short it again for a target of 16900.
2. Don't look to buy call option in a bearish market. That's a very bad habit of a retail trader. If sl of 17120 gets hit then also don't look to buy call options for a target of 17450, better would be to wait for the market to reach 17450, then again look to short.
3. don't chase gap down if market doesn't give a pullback.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.