NIfty continued to show it's bull power yesterday by closing at day's highs. However, as usual expiry days are, yesterday it gave wild swing both sides without giving any sustained trend hence hitting SL's on both sides for intraday players.
I personally gave 3 intraday calls , 1 was profitable and 2 hit SLs hence my intraday ledger got slight drawdown yesterday. There is no reason why today would be a trending days since the option writers would try keep Nifty still so that ATM options expire worthless. I will refrain from intraday trading today and would advise the same to all my readers. However in case I see a low risk/high probability trade, I will trade with small position size.
From a swing perspective nothing bad in continuing to hold your longs, I anticipate a dip later today or tomorrow to 2920-2950 levels again where more longs acan be added. SL continues to be 2910 on a closing basis.
After this expiry, I will post my fresh swing calls on stocks.
Intraday Magic levels for today
NF = 2935, 2962, 3015, 3045, 3088
Cheers
SH
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