1. Large hammer like candle shows emotional extremes.
2. Any trending move possible only when positions at these extremes gets taken out.
3. June 21-24 likely to be a second negative week.
4. On downside, I consider the zone of 15375-15425 as the possible support zone.
6. Stop loss for short positions should be close above 15684.
There is a possibility of gap down. I plan to avoid any long positions unless NIFTY closes above 15770 and maintains it.
I have two positions
1. 24 Jun 16000/16200 CE Spread sold at Rs 28, Now trading at Rs 11. SL is close above 15770.
2. 01 Jul 15600/15700 CE Spread sold at Rs 44, Now trading at Rs 64. SL is close above 15684.
2. Any trending move possible only when positions at these extremes gets taken out.
3. June 21-24 likely to be a second negative week.
4. On downside, I consider the zone of 15375-15425 as the possible support zone.
6. Stop loss for short positions should be close above 15684.
There is a possibility of gap down. I plan to avoid any long positions unless NIFTY closes above 15770 and maintains it.
I have two positions
1. 24 Jun 16000/16200 CE Spread sold at Rs 28, Now trading at Rs 11. SL is close above 15770.
2. 01 Jul 15600/15700 CE Spread sold at Rs 44, Now trading at Rs 64. SL is close above 15684.