June 13, 2014

NIFTY 8000 call lottery

I am bullish on nifty if it manages a close above 7570 spot... close near day's high has even more bullish implications.

High risk traders can buy 8000 call as a lottery and hold till expiry.

CMP Rs.6/-. No SL no target.

Do not invest more than 1% of your capital in this trade.

Close below 7570 spot can lead to profit booking and start of a correction.

EDIT: as markets close below 7570 spot this call has failed. So 8000 call closed at 3.60 giving a 50% loss or a 0.5% loss on capital employed. While there was no SL, we are out of trade as markets closed below a certain level. Position sizing also helped minimise loss.


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