The News about Gulf Crisis pushed the market upwards. Your stop must have hit loosing Rs.500.
Now the Confirmation point for fresh Short is when NIFTY sustains below 5520 for at least 5 min. Till then it is in Bullish mode. Since it is a News based Trigger, it is advised that, keep a strict Stop Loss if you are LONG.
General Concept Of my Intraday Strategy: 1) if NIFTY lies below the “Bullish-Bearish Border”, Buy Current month OTM Put. That is if NIFTY is at 5300-5350, then buy 5200 PUT) and vice versa. 2) If you wish, you may adjust your cut off according to your risk taking ability. 3) Once NIFTY moves in your favor bring the cut-off to breakeven. 4) Exit at Close of the market.
These are free Calls and you may note the Disclaimer before you take any action.
Disclaimer: The views expressed herein are to be used with your own discretion and neither analyst nor the publisher will be responsible for the outcome.
