Nifty may hang around 7800

Time: 7:15 am

Month chart is in bullish convergence.
FII still in buy side
Weekly chart also looks bearish now.
Day chart is bearish.
4 Hours chart is bottomed out.
Nifty struggles to get pass through 8000
Mixed flow in different time period will make higely volatile never before.
Close to close basis, nifty is not moving much.
Having 8000 CEs and 7500 PEs with loss 2.7K now.
will hold till this month as I do take only neutral view.
In long term, nifty is supposed to go up.
According to movement in put also, downside seems to be limited.
Volatility is highly expected in may month and particularly after fast rally from 6800-8000.

Jegathesan Durairaj, a mathematician by qualification, an Ex-software professional and now a full time Risk Defined Option Writer. With his Open Book Strategies, he is the most known identity in twitter as itjegan, with huge followers. He had won Zerodha 60 Day Challenge – 10 Times round-the-clock. He is one of the prime Option Writing Trainer and tutored close to 1000 members till now.

He is the Mastermind of CapitalZone РActive Option Trading where Traders can avail Trading Chart with customised indicators, FNO tools and Payoff analysis. His keynote is to provide whole FNO deets to be handy for Traders in a sole place.

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