As discussed yesterday , range day converted to trend day above 31122 and broke resistance to close at high. Call buyers above 31222 and put sellers gained handsomely.
Key Levels for tomorrow -
Pivot range for decision making - 31322-31480
Resistance - 31754
Support below pivot range - 31207
Expectation - Rangebound for first half , sharp rally in afternoon
My trade - Selling calls near resistance. Covering calls when nifty enters pivot range.
Jackpot - I am not contemplating any pivot range break on downside tomorrow , however I do think this range will break over next 48 hours. Weekly expiry can be below 31000.
Key Levels for tomorrow -
Pivot range for decision making - 31322-31480
Resistance - 31754
Support below pivot range - 31207
Expectation - Rangebound for first half , sharp rally in afternoon
My trade - Selling calls near resistance. Covering calls when nifty enters pivot range.
Jackpot - I am not contemplating any pivot range break on downside tomorrow , however I do think this range will break over next 48 hours. Weekly expiry can be below 31000.