Last week the market had a positive bias, but performed very much volatile and choppy as far as the Nifty future is concerned. The week low was observed at 8293 and the week high was 8497 which gave oddly a profit of 204 points for positional traders who maintained their long position.
But this the market has some good news, though there is threat from Greek factor, if the market ignores the global cues and concentrated on national issues like monsoon magic,debate on realty bill,digital India and the so called rate cut, the market may moves up further this week and the following levels are to be considered for your trading.
Upside target for the week: 8775
Downside target for the week: 7985
The following strike prices are to be considered for the week:
CALL Option: 8800CE
PUT Option : 8000PE
The following strike combination can be considered for safe trading on positional basis:
8600CE + 8200PE
The option writers (short selling) can considered the following combination with tight stop loss:
9000CE + 7800PE
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