SENSEX view for 09 August 2023
The market has been getting very depressive, especially for options traders for the past few days. The market is primarily indecisive. This is mainly because big players are awaiting key financial data, such as repo rate announcements, inflation data etc. Retail traders should stay away from such a market condition and wait for a trend to start. Premiums are gonna depreciate very fast.
Tomorrow, for call-side entry, we need to wait till SENSEX breaks the 66080 level. Similarly, for put side entry, we need to till it breaks down 65750 level. In between is a no-trade zone.
If SENSEX opens in green and continues an up-move, the day before's high, which is 66261 is the first target, from which it is most likely to retrace. On the down-side, 65485 is the immediate support.
Note: This is just a personal opinion, and a trade advisory. Do your own analysis before initiating trades.
Tomorrow, for call-side entry, we need to wait till SENSEX breaks the 66080 level. Similarly, for put side entry, we need to till it breaks down 65750 level. In between is a no-trade zone.
If SENSEX opens in green and continues an up-move, the day before's high, which is 66261 is the first target, from which it is most likely to retrace. On the down-side, 65485 is the immediate support.
Note: This is just a personal opinion, and a trade advisory. Do your own analysis before initiating trades.
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