[Nifty Chart above for last 1.5 months]
Indian Stock Market replicated the global short term trend, it was up 4% with high volume but open interest fell down, why? Because downside is limited, but he opportunity for upward movement is very high, what should we do now?
HBJ Capital Team, after looking at macro/micro economic factors impacting equity market is coming out with suggestion for trading community.......to buy Call Option of Nifty, this is because further downside probablity is low and there is huge opportunity upside.
Nifty 4400 was the support level last month, almost 99% of the analyst were expecting Nifty to form a bottom at 4400, but all were proved wrong and Nifty touched 3800, to surprise all.
What next from here?
- Will it go down to 3500-3600 or below? May be or may not be.
- Will it bounce back to 4200 or more? Yes, it is very much possible.
So, odds are in favoure of Nifty @ 4200 rather than Nifty @ 3800.
-HBJ Capital Team
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