Wednesday, May 6, 2009

extended 3rd up wave progressing



nifty charts is self expalanetry one eod basis
we are progressing towards end of extended 3rd up wave..
that is called 5th of 3rd wave..bull vs bear war jone and bear will be winner
require 1-2 days more to upmoentum co0ll off
till that period both side movement.
keep profit booking on longs
..since nifty has already achived all target zone one weekly basis.....
dontexpect much upside.
selling higher call option 3750 s safest stergies instead of naked short future or taking put and hold up...if some point goes more upside or if stay in range for 1-2 days
then take 3500 put option
as rule of convertion says
shorting a future = selling a call option+buying a put option