Hi Traders,
here is Nifty Option Chain of 05th Aug 11(Fri).
Pls note that there was a big important news ,after market hours of Friday. S & P has downgraded US credit rating from AAA to AA+
Now to the Option Chain. Notice the OI build up on Friday at the 5200 Call and 5000 Put and it is over 30 Lakh each . If the writers /Sellers are strong enough at these strikes, this may be new trading range for nifty.
So far in this series, Nifty is Sliding like a enthusiastic kid at a water slide in the amusement park.As Nifty is very oversold, we may see a pullback either on Monday(08th Aug ) or early part of the week.So, do not take short positions for granted.Movements of 80,100 Points in Nifty is no big deal.
Happy Trading.
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