Players want Indices to stay range bound before results

The way we are trading for last 8 – 10 days it seems the Market players are getting skeptical as and when nifty reaches 4800 and above and every gap up opening is used as profit booking as fear of inflation, what the earning would be given the global slowdown, drop in IIP numbers, there seems to be fear that would the earning slow down significantly that the valuations would look overstretched. But on the other hand as and when the Nifty reaches 4620 the optimism takes over the reason could be the global markets are not breaking and most are even trading near about there monthly highs.

The best case scenario now would be to sell options rather than buy them, so as and when the nifty is close to 4600 level 4600 put could be sold but to protect yourself from any adverse move 4400 put could be bought, if this is not suitable then 4500 call could be bought along with 4400 put. Also as and when if nifty closes in nearby 4800 and above 4800 call could be sold while 5000 call could be bought in.

Now coming in to trade today, most of Asia is trading in red with 1 – 1.5% cut, exception being Hangseng which is for most of the day in green. The trade is quite difficult for today personally I am avoiding Intraday trade as of today.