Dow jumped 5 percent yesterday. We may open gapup today. Although it was short covering but will have effect on Indian Markets.
We were bearish on 30 minute charts and exactly where daily charts were, we took support. I was monitoring my positions through mobile while travelling, so could not act fast around 26650 and by the time I was able to exit, it was already 26850.
Another rule added. If cannot trade from a computer, then don't trade.
PCR has again gone bullish along with pain, and we may see bullish momentum continuing.
Yesterday, we saw a lot of call unwinding and put writing at Nifty. On Bank Nifty, call unwinding was huge, but put writing was not that much.
Still the trend seems bullish. Trend reversal may reverse if we cross below 26740 which seems highly unlikely for now.
I am currently holding put calendars which may not give much profits but in any adverse condition will not add into losses.