Points to Ponder: Nifty Chart Attached.
1). Nifty Bull / Bear Surprise Factor is Clearly Missing from last 2 Expires (May, June).
2). Who Gained: Neither Bulls Nor Bears because sustained BUYING or SELLING was missing.
3). Who Lost: Undisciplined Traders both Intraday & Positional, Options (CE, PE) Buyers, Die-hard SGX Nifty Fans.
No one says, how long this would continue even from hereon…
4). Please decide what is the Most Important: Perception (SGX Nifty) or FACT (Nifty Spot Closing Price).
5). 200pts Trading Range for 11000 Index is Nothing. Nifty Pillar Strategy needs at-least 550pts, More the better !
6). Clearly, Nifty is not worry about Rising Interest Rates, Crude, &/or Falling USDINR, Global Markets; then, What Else is left to worry about, Earnings ?
7). Keep Eye on “BANKNIFTY Index” (range is even narrower then Nifty) and “IT Index” (TCS & INFY looks overbought).
8). Took Nifty June Futures Buy at 10810, did rollover to July Futures and Reversed to Short Sell at 10775, as shown in attached Chart, too.
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Rocket Trades, SEBI RRA INH200002978