It is clear, looking at how the F&O expiry is panning out, that markets may not break down anytime soon. “Nifty may not break the low of 5620-5640.
However it is expected that some volatility on the banking side that could take the markets up. “I believe SBI January position may not roll over and they would like to see either cover position or at the fag end.”
On a strategy for the next series, I advise to sell Put options. I would recommend to “sell” the Put option of 5500 February where we have good support and certainly market even if it breaks 200 day moving average may not substantially go low because we are seeing huge selling happening in January and the results are okay. I expect more of consolidation and upside on the market in February.”
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