All you need to know as a trader or Investor
Today's fall due to heavy delivery based selling in some stocks like HDFBank and Reliance.
Heavy call writing can be measured at 12200 with total OI 55Lakh and highest put writing can be measured at 11900 with total OI more than 45lakh.
As per option chain nearest support for Tuesday is placed at 12050 and
Resistance is at 12200 hence we can see nifty trading between these level.
SGX nifty trading in negative which shows negative opening for nifty tomorrow as wel .
Week is expected to see more volatility due to budget and longer week.
More importantly if the Budget does not meet the high expectations, the market can see a sharp selloff after it so be caution and avoid budget day trading if new to stock market.
As the market rally suggests expectations increased significantly from the budget hence this time it would be much important than any other past Budgets.
United Kingdom is set to exit the European Union by next week's January 31, 2020 deadline.
Over all we have to look for only three thing for Indian market that is
BUDGET BUDGET BUDGET
So before making any trade decision consider the greatest event for the week and make your strategy accordingly.
For tomorrow if nifty cross 12150 then it may rally and if nifty breaches 12100 than we may see nifty to further down.
In case working in option for this week follow our both side strategy for safer side trading. visit our youtube channel and watch the strategy else comment I will send the link as well.