TraderPK

Nifty gapping up and opening in a vulnerable area - either we move back to 17360 spot or rush to 17628 spot levels. Just follow the move.

It's a gap down open per global markets. Expecting a rotational day within prev day's range where option writers will try to defend 17000 and 37000 on the downside. For the day, 36500-37500 strangle with strict sl can be played.  BN breaking 36400 will lead to next target of 35700 and 34500 in the coming weeks. 

Expectation of a gap down opening.  After yesterday's large move, we can look to consolidate within prev day's candle. v Given tomorrow is a holiday, better to not take positions home as global markets are open amidst this heightened volatility. 

US market has established a break down and we can expect a bearish sentiment for 1-2 months at least. As usual, there will be sharp rebounds which would be great opportunities to go short. For Nifty, it is best if we could consolidate here before starting the next leg down - expect it to happen in a step by step manner.  Ibullhsgfin on radar as this has been consolidating since long and can break in either direction.

 Following 2 days of volatile action, expecting indices to consolidate. OI data suggests NF will close below 18k, whereas BN closing will be decided how we play out 38k level. From a mid term point of view (1-2 months), we are entering a bearish phase in the indices.

 NF opening near a key level on spot i.e. 18350. Given BN weakness, we can expect NF to cool off from here. If we sustain above 18350, strong uptrend is imminent. BN is a short below 38000 spot levels target 37700. 

 Flattish open, expecting tepid action  on both indices. Motherson below prev day low is a good short. IRCTC about to break out - with high IVs, can play with bull put spreads. HCL will give intraday opportunities due to gap down. 

 Gap down open. Overall market is bullish and we could see a choppy market today stabilizing around yesterday's value area around 38600 for BNF and 17250 on NF

Opening with gap up and this can lead to profit booking. 18000 and 38000 PE could protect the downside.  

Neutral sentiment, heavy OI at 18000 and 38000 CE breached and now PEs are strong at those levels - this is very bullish for this expiry. A gap down would've helped in a strong move but since we look to open flattish, can expect a neutral to positive day consolidating above yesterday's value area. Longs can be added above prev day high and can be held till tomorrow's open.

Neutral sentiment compared to last session, market recovered in 2H on Friday but mindful of the heavy OI at 18000 and 38000 that would provide stiff resistance on NF/BN respectively with key supports at 17628/36800. We look to gap up - this can be sold into. 

Negative sentiment due to heavy FII selling yesterday which is not what the price action denotes. On any downmove, will look for supports at 17628/36800 for NF/BN respectively. BN made an inside day candle yesterday and if it breaks prev day low, look for target 36800 where it could take support. I can think of 2 possible scenarios for BN. Scenario 1: (more likely)  Scenario 2: (less likely)