Daily Chart
Seeing
the neckline broken so decisively made me bearish .I failed to see the ‘outside
day’ formed which is a reversal pattern.The oversold status of the markets gave
rise to a pullback.
Half Hourly Chart
The
half hourly charts have turned mildly bullish with a breakout from the
downtrending channel. The 5 ema has bullishly crossed the 20 and 50ema. If the
momentum continues the bulls may drag the Nifty to 4920 levels. It is still a
sell on rise market and the 4818 level should be strong resistance.
Strategy
Write 1 lot 5100 call jan series at 31 rupees
Management : above 4920 buy a 4900 CE at CMP Jan series
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