Nifty November futures post emotional buyers dominance took a 100 pointer on the downside. Trading sentiment turned down on the daily charts with immediate quick flip resistance comes around 10663-10674 band. Trading Focus remains down as long as the price is able to hold down below the immediate resistance band. Short term focus on the downside is towards the 10640 and 10580 reference levels.
Nifty Futures Quick flip strategy
Call writers are staying aggressive at 10800 strike price which remains as the EOD resistance for this series in Nifty Spot. Nifty daily volatility continues to be in a compressed mode where the 20-Day ATR levels are sliding. That puts a check that volatility and emotions are thus far in control for this series. However, the near-term events like GDP growth announcement on 30th Nov, RBI policy announcements on 5th Dec and Rajasthan December election results could bring elevated volatility in the markets.
Thats not happen Novemebr series end in strong bull market , any analysis why stragety went wrong ?