Day Trading Stocks & Futures

[trump]

23700 above there was no looking back

 

[Shiv12345]

The happening week finally ends ... We saw huge movement both sides in this week ... In the end, we can say that it was a good swing trading opportunity throughout this week ... Good gyration ... But overall, this market is surely making mockery of retailers ... Its literally making a lot of retailers look like fool .... I believe only experienced traders can survive on such tricky days ... In the beginning of this week, when Bank Nifty broke 24000 level, I decided to avoid trading and did not buy any PUTS (though it was a great opportunity) as I was not sure how far it will fall .... I only bought PUTS for mere 60 minutes once the news flashed that Indian Army conducted another surgical strike and the crash began (by the way I don't understand why our markets fall whenever our Army conducts any operation against our enemies. Whats wrong with it? Please help me in understanding) ... Then waited patiently for expiry day and utilised second half period which was really good ... Today bought CALLS during morning and sold when nifty was looking solid ...

 

[Shiv12345]

No trade taken as of now in today's session. Waiting for trend confirmation. The problem is that every other person is expecting rate cut tomorrow. That is when the market usually surprises us. Need to be cautious till tomorrow's RBI decision. Any views on Banknifty?? Thanks

 

[simplebuthard]

No trade taken as of now in today's session. Waiting for trend confirmation. The problem is that every other person is expecting rate cut tomorrow. That is when the market usually surprises us. Need to be cautious till tomorrow's RBI decision. Any views on Banknifty?? Thanks

My views on banknifty is very clear. 24300 (SPOT) level is the critical level. Above i am long. below i am looking for only shorts.

 

[Shiv12345]

My views on banknifty is very clear. 24300 (SPOT) level is the critical level. Above i am long. below i am looking for only shorts.

Ok ... Also, I was wondering if I should buy few lots of BN 25000 CE (Oct monthly expiry) and hold for couple of weeks because of upcoming Diwali season. Moreover, its not just about Diwali dhamaaka but even global indices are making new highs but Nifty has not sprinted much. Either it means that we are due for one more upward dhamaaka or it means there is still weakness in our market and may drown further. As of now its hard to decide. May be tomorrow is the day. The worst thing that can happen is if the Bank Nifty gets locked again between a specified range if in case tomorrow's RBI event turns out to be NO EVENT.

 

[simplebuthard]

Ok ... Also, I was wondering if I should buy few lots of BN 25000 CE (Oct monthly expiry) and hold for couple of weeks because of upcoming Diwali season. Moreover, its not just about Diwali dhamaaka but even global indices are making new highs but Nifty has not sprinted much. Either it means that we are due for one more upward dhamaaka or it means there is still weakness in our market and may drown further. As of now its hard to decide. May be tomorrow is the day. The worst thing that can happen is if the Bank Nifty gets locked again between a specified range if in case tomorrow's RBI event turns out to be NO EVENT.

The previous swing high for bank nifty was 25200 and the second one which is recent one is also near to that 25100. The probability of making one more attempt to that level is very very low, almost nil, that too within a month period. so buying 25000 call is certainly not advisable.

 

[Shiv12345]

The previous swing high for bank nifty was 25200 and the second one which is recent one is also near to that 25100. The probability of making one more attempt to that level is very very low, almost nil, that too within a month period. so buying 25000 call is certainly not advisable.

Hmm .... One more thing I just noticed few minutes ago is the way in which Banknifty 24300 CE (5th Oct) is being written all of a sudden. It was showing huge buying just minutes ago but that changed all of a sudden. Now each BN CALL from 24300 is being written off which suggest the activation of that same old boring thing called 'Premium Erosion'. But on the other hand, people are still buying PEs of far distant range. I don't know, may be its just another trap.

 

[Shiv12345]

Well ... Just didn't get any trading chance today. It was one of those days when you just have to sit quietly and watch the proceedings.

 

[Shiv12345]

Bank Nifty looking restless (though locked in tight range as of now) .... Second half may see a fierce move ... Take your positions in second half .... Best of luck

 

[Shiv12345]

Bank Nifty looking restless (though locked in tight range as of now) .... Second half may see a fierce move ... Take your positions in second half .... Best of luck

Well ... RBI drama proved to be NON EVENT .... Again, Bank nifty seems to be locked in tight range ... & with that long wait continues ... I could only buy BN 24400 CE (5th Oct) around 13 at 2:37 PM approx as the market did not show signs of breakdown ... But immediately sold at 17 .... No other chance ...