Jan 23 2020 Options Expiry

started Options and also taken position in following ..

S : 12400 CE
B : 12500 CE

Net credit expecting : 2K with ROI of 2.5%

Nifty will expiry below 12400 on Thursday 23 Jan 2020.

Observation : though Reliance have given good results still NIFTY PE 28

which is almost hot or expensive to enter into Large cap so i would sit tight and watch

Bear taking control as Chart also indicating Resistance @ 12360 and Channels indicate

there could be cooling period for bulls to take Charge further until it might consolidate

or trade between 12210-12360 and expect to be range bound till end of Jan, good news for bulls

will be coming in only after Budget in Feb2020.