US Market had an explosive week on the back of strong earnings and some decent economic reports. Bulls are actively building long positions in all stocks. Also Asian, European & Indian The markets saw biggest weekly gain since week ended May 24, 2009. The Sensex, Nifty and Nifty Junior ended 9% higher each. crossing over the 4,390 level will be important for the Nifty to continue the uptrend. The 4,390 level is also a 61.8 per cent retracement of the fall from 4,693 to the 3,919 level. The crossover means a 100 per cent retracement.
Hot Topic : CIT is not getting the finance, so it might be file bankruptcy. The ripples from a potential CIT (US) collapse could be widespread and worsen the effects of the economic downturn for some firms. The impact of CIT's demise would likely pale by comparison with the collapse of investment bank Lehman Brothers Inc last September, analysts have said.
Our Option Strategy has proved successful nifty option trading strategy. The Break Even Point has been triggered. Follower's of Positional Option Trading Strategy can book their profit. Our last positional nifty option trading strategy was dated 18th June09 has BEP @ 4718.
Nifty Trading Strategy for Monday, 20th July09
As 50% stocks are trading above it's support level the market turned in up-trend. Monday migh see profit booking. If profit booking take place one can exit the call and release the put of (Bull Strangle) with gains at the bottom.
.
