Nifty Straddle: 175
Last 25 mins under CAS: 100
So we are looking at
Overnight +2 trading days: 75pt decay
We have somehow made closing risk bigger than overnight risk. Overnight traders finally identified as conservative investors.
This is India's closing auction story.
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What should be done in such time when there is no movement in the index?
Learning:
Nifty is trying to hold well above the 24,450 level.
Which is a good sign.
However, we have been seeing a range-bound
move for the last couple of days.
In such a situation, our strategy should be to
either wait for clear strength and momentum or, if
we take a trade, keep a close eye on 24,450.
A sustained move below 24,450 can indicate
weakness, so this level remains important for the next move.