On Wednesday 24 Feb 2021 the Sensex jumps 1000 pts, Nifty reclaimed 15000. Market witnessed sharp gains after the trading resumed post technical glitch on NSE at 3.45 PM. The Nifty jumped over 14950 while Sensex jumped more than 1050 points. nifty closed the day at 14987 up by 278 points, Almost the complete day has gone for Options players due to some technical issues at National Stock Exchange which is the biggest exchange in India. So in Options price, there is a major component of the time value of money which is known as delta. As we have almost lost one day of trading, the time value of money for the day has been eroded from the Options. Option call put 25 Feb 2021 expiry will expire tomorrow, so this trading halt will be beneficial for Option writers as the time value of money will come down when every market opens. On the other hand, this will be a disaster for the Option buyers as their premium will come down significantly.
We reiterate our positive yet cautious stance on markets and advise aligning positions according to the prevailing trend. The Nifty is trading very close to the 15000 level if it can sustain above this on a closing basis, we should anticipate it to go up further to levels closer to 15100-15200. The overall market remains bullish with a good support at the 14800-14600 zone. Traders must trail position with strict stop loss.More about intraday tips Whatsapp
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Resistance: 15100, 15200, 15300
Support: 14800, 14700, 14600
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