Nifty is supremely stretched and has made an ingulfing pattern on weekly chart. 22,500 will likely act as a strong resistance and will take some time to be breached. A subsequent lower high can trigger a steep fall up to 22,000.
Option sellers will have started selling 25,500 calls.
Option buyers should be waiting for a lower high before buying puts at likely demand areas.
Mutual fund investors...RIP.
Option sellers will have started selling 25,500 calls.
Option buyers should be waiting for a lower high before buying puts at likely demand areas.
Mutual fund investors...RIP.
Note
Last week 22500 CE closed at 0. This week will have high premiums.
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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.