What the market has done today. It was just only a drama to be shown to the people. See the this intra-day chart....
NIFTY Spot Intra-day Movement of 20 Jan 2011
See the gap which made from the level of 5660 to 5708. Today big players has done a dramatic session which is clearly shown in the chart. From opening to till 13:00 PM, market was reacting on its way but after 13:30 PM market turned into dramatic session and moved up and touched the level of 5729.39. I had suggested the 1st support of NIFTY Spot was 5620.35 and NIFTY Spot made the low of 5634.50.
What is the reason of this dramatic session today???????????????
See the real fact............
After Analyzing this table its clearly states that.....
Total Net Long Position = Rs. 1704.80 Cr.
Total Net Short Position = Rs. -2821.44 Cr.
So Over All Net Short Position is = Rs. -1116.64
So After Analyzing all these things Market is not looking strong right no.
So, Buy NIFTY 5600 Put Feb Expiry @ Rs. 75 - 86 (according to your risk level), Stop Loss Rs. 30.
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