NIFTY options trading strategies for 12th jan 2011

hi,

    I was looking for some signals to confirm few things.Now thing is like Day basis resistance is placed 4900 +/- 20 points.So it will surely fall after hitting that.As I said 5100 FEB series is plan to challenge monthly which breaks at major reversal else it wins most of times.

 Few things what i was waiting as jackpot opportunity looks very close on cards RSI,MACD slowly entering overbot zone.But fooling part of that is that it may reverse fast in a flash or take some days to fall.

Weekly is also on crucial juncture.If we get a weekly close above 4900 then bulls will take game ON in their hands.But this seems to be not permitted by Daily.

So action is I am very much tempted by buying Puts.I may enter 4900 Put Feb series now as expiry is just kissing distance away.or may be 4800 PUT FEB series with really large quantity.

This is belief in trade like situation,I dont know "Pray and enter."(This is backed by belief in your theories)

2 indicator confirmation looks enuf for me.Now see how trade will work semi worse case markets rise beyond 4950 but it will hard for markets to beat 5100 .SO my CALL WRITE at that Level looks fairly safe.

So overall i will be in profit.

Best case markets fall to atleast 4700 first dont know exact target but it wil fall now.So Doubling opportunity is on cards.So Get set ready now.

This time no too much faar puts buying.Not beyond 4700.

Game ON.