Nifty & Bank Nifty Trading Strategy as on 31 May’13

Nifty as on 30 May’13– 6124.05 (+19.75)    Bank Nifty as on 30 May’13 – 12805.90 (-47.30)

Finally expiry date passed, and Nifty and Bank Nifty remained range bound. I think this time it will be slightly exceptional, because generally on Expiry Day we witness high volatility. It will be interesting to research Nifty and Bank Nifty behavior and ranges on expiry day. If time permits I will present you one.

Nifty closed at 6124 with marginal gains. But in last three sessions it remained almost in same range. Whereas, Bank Nifty is gradually losing ground, and CNX IT is also in midst of the way. Broadly, there is no clear trend emerges out from this observations, and that is the simplest reason, I am saying that Nifty has a equal probability to turn Bullish or Bearish (It’s just broad understanding)

Nifty Trading Strategy

Nifty made a high of 6133.75 and remained range bound. Suggested Long Strangle closed at 70, I advised my readers to hold this position, as and when Nifty witness some sharp move this option strategy will start earning for you.

Bank Nifty Trading Strategy

Even in last session Bank Nifty lost some ground, but it is very marginal. Still Bank Nifty holds above 12750, although it was pierced in last session by making low of 12721.45, but closed higher at 12805.90. Keep patience and wait for right signal.

Aggressive Traders can enter a short position below 12750, but if Bank Nifty remains above this level in last half an hour than don’t think twice to close the position, just square off and get out. You’ll get another opportunity.

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