In spite of Dow Jones closing in the negative territory with near about 1% down none of the Asian Markets have intraday lows of even 1% that speaks strength. Nifty should open gap up at 4880 and then try to move towards 4920, I think it might even break 4920 and try to show the figure of 4980. Nifty 5000 Call could be bought in the range of 125 - 135 for a target of 180 and if 180 is substantially broken then 220 stop loss could be placed at 110.
Now coming to Nifty options strategies for April, as I had said in my earlier post that Nifty would be heading towards 5200 or 4200 with the probability of 5200 significantly more than 4200, Nifty is moving towards 5200. As of yesterday when Nifty was at near about 4800 with both be the targets being substantially far, buying Nifty Put and Call Options with same value and waiting for breakout towards one direction would have been the strategy but now with Nifty close to the top target if gap up opening happens, Nifty Call and Put options should be bought in such a way that If Nifty 5000 Call is bought then hedge should be Nifty 4500 Put.
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