Weak open-downtrend resumes-Hold shorts to cover EOD-Risky traders may carry shorts for Thursday open.
On Thursday, it was mentioned “The traders must exit all long / CE positions before Friday EOD and use this bounce to re-initiate fresh shorts / PE on Fri EOD”. Expect the weak open for Indian market and the nifty may try to retain levels for initial hour followed by further drifting. The intra-day traders may initiate short / PE at open to cover EOD. The high risk traders may carry shorts for Thursday open. Due to ‘Time decay’ (holidays) it’s better to short CE than holding PE.
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Investment in stock markets is very risky(so it is always better to advise others than trading own). Any analysis is not 100% accurate and for best results, always check charts (?) before investing or trading. No responsibility is assumed for any adverse consequence resulting out of acting on them. Lastly, the blogger may have positions (opposite too) in the trades mentioned in this blog.
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