Buy the extreme sentiments

There was an indication by many of good TA's about the 3600 levels  & we are here now. Lot of Drama was done by nifty in last few week and as i said we need time in my last to last post so don't assume this temporary reversal which we can see in few day as the start of bull market .Right now there is extreme negative sentiments in the global market with respect to global economic recession. Buy the Extremes is what the big folks say so this is time to go long i feel.

I thought that Nifty would cover up yesterday in later half and then it would fall again today morning. But today's morning work has already been done yesterday, we breached 3600 mark and then closed at around same levels of 3600. If nifty stays above 3565 we can expect it to cover and move slowly towards the pull back levels of 4000 ( giving technical levels here ). I feel that Nifty will open slightly negative to flat today. IF Nifty opens with the big fall and does not recover quickly then  the scenario may change.

I would like to buy the 4000 Nov call at round 80-90Rs and keep the stop loss of 15 rs. From here if nifty move as thought then we can keep our Stop loss trailing and add more calls if we feel that we are in the correct trend. Remember if we open with the big fall and do not re-cover then I would not prefer to go with this trade.

Remember that there is nothing stable in Stock market; therefore avoid undue elation in prosperity, or undue depression in adversity.