The Nifty D is the distribution pattern or the balancing nature of the market as it moves from Imbalance to balance.
Here is the chart which was posted yesterday :
And this is the updated one as of today :
Clearly the profile is balancing and acquiring a D shape as we look to leave this formerly poor traded zone.
There have been sellers selling near the highs and covering for a few points below and buyers buying the dip but not holding on for higher levels.
Meantime the 5300 CE/ PE are accumulating volumes and Open Interest as well as the 5200 PE and the 5400 CE.
That's the actual strategy for this market- a theta burn on a delta neutral platform.
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5 comments:
SGX Nifty made a low of 5069 and trading at 5097 as of now.
Shai, does Nifty have a date with 5050? :)
Kris,
If Only NSE was working today!!
For the information of all, On Monday Night Kris had told me that he would be seeing the Nifty at 5050 by the end of this week!!
@Kris
All I can say is, WOW!
3) A gap down open on Friday can take Nifty to much lower support level of 5035 levels. Happy trading :)
Kris - Euro high till now has been 1.363
If Euro doesn't cross that level then your PEs are in full business for tomorrow!
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