Monday, August 9, 2010
The Bear Takes a Rest
The Stoploss of the Positional trade(taken in mid July), at 5475 on closing basis ,has been hit today.
The Option Analysis does not shows any panic in call writers and they are even adding at 5500 strike ,similarly though the puts at 5400 have added but not in big quantity so as to emphasize a big rally coming up.
The Bear takes a rest but due to O/B and negative diversion persistance in charts ,it will remain vigilant at the break of 5450/40 levels .
Till then trade light and with the Trend, that's UP.