Market View 20230725

With the Fed Meeting looming on Wednesday, we have the BankNifty suspended, with no action. And this will continue until Thursday possibly. At least until the market gets whiff of the fed action.

I would like to close my positions prior to this, but with a loss unrealized, and the possibility of potential break down on Thursday, I'm hesitant to close. And this is the dilemma you face, if you close and book the loss, then on Thursday any sharp move down, would be a regretful decision.

At the same time, if you hold, and the market moves up, you could face more pain in terms of a loss. It's a gamble at this point.

Even if you were to sell more PEs, the premiums are so low, that you would not get the hedge you require.

SO what will be the decision? I'll wait for today to come to an end. I believe we will see little momentum, and mostly sideways consolidation eating up premiums.

0958am

Here are the levels marked. The ranging is tightening, between 46120 <> 45865. That's just 255 points and we could have a violent move in any direction.

0232pm

Steady decline down... but can't confirm for sure under we breach 45733 level of support. It was holding well around there.