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Roller Coaster Ride !! (1st August 2023)

1. U.S Markets closed higher Yesterday. 
2. All the indices closed in Green.
3. Gift Nifty is up 40-50 Points.
4. Asian markets are mostly higher as well.
5. Yesterday it was a trending day.
6. It was an upward trending day for the markets.
7. Nifty opened with a mild gap up which got sold into.
8. Then it tested the Fridays low and then started moving higher non-stop
9. Similar was the case with tye Bank Nifty.
10. Bank Nifty tested Fridays low of 45300 thereabouts and started rallying ahead.
11. Fridays low for both the indices is a very strong support now.
12. I sense this could the short term low atleast for a week now.
13. Today we have FIN Nifty expiry.
14. I have started trading in FIN Nifty lately.
15. Must admit that it's one of the most VOLATILE instrument to trade specially on expiry days.
16. In this low VIX Environment , Premiums are extremely low so Risk - Reward isn't favorable to sell the options.
17. Naked option selling for FIN Nifty isn't advisable for expiry.
18. Better to trade with hedge.
19. Markets had rallied during the last 30 minutes of trade Yesterday so 19700 becomes a buying opportunity. 
20. Buy on dips strategy to be applied now.
21. Nifty might trade between 19680 to 19900 today.


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