General Trading Chat

[jd1234]

Here poor and middle class always suffers.

 

[HEM]

Thank you friend. 6 months break from trading and traderji , now I am back to trading and traderji :thumb:

Welcome back Ravi........:thumb:

En 6 months ke break me kaya kaya kiya batao....



HEM

 

[NoviceStockTrader]

May be a hedge against long positions but some huge buying seen in 8000 PE.

 

[travi]

May be a hedge against long positions but some huge buying seen in 8000 PE.

Better way to read that is:
The OI is at 7L, more than any OI on either side.
From the Market Makers view, they have written that, hence, 8000 PE is a solid wall and therefore a Bullish signal at those levels

EDIT: 7L is typo of 74L.

 

[BearsTruth]

May be a hedge against long positions but some huge buying seen in 8000 PE.

Hmmm. Me not buying my puts yet. Waiting for this rally without legs to run out of gas. That likely to happen in next few trading sessions. Trading this volatile market is not easy, anytime 20-30 points upside and downside can come. So the best way in my view is go for holding positions.

 

[NoviceStockTrader]

Better way to read that is:
The OI is at 7L, more than any OI on either side.
From the Market Makers view, they have written that, hence, 8000 PE is a solid wall and therefore a Bullish signal at those levels

Yes I am aware of that. What I was referring to was the volume at that strike. The COI at 8000 pe is 4 lacs, but volume at 1.1 lac. But 8200 pe COI is 9 lacs but volume is only 60000.

I agree with your view that OI at 8000 pe is 74 lacs so market seems to think that it is a good support. But haven't we all see how fast OI data can change with one single swift move?

 

[Smart_trade]

IT Amendment bill is passed.

Smart_trade

 

[NoviceStockTrader]

Hmmm. Me not buying my puts yet. Waiting for this rally without legs to run out of gas. That likely to happen in next few trading sessions. Trading this volatile market is not easy, anytime 20-30 points upside and downside can come. So the best way in my view is go for holding positions.

Sir, Today closing below 200 DMA means that sellers persisted pushing price down despite buyers trying to trade above 8157. For whatever reason, I have seen the market/stocks dont find it too comforting to trade at the 200 DMA and market usually flies this way or the other. Maybe that's coz buyers/sellers want to clearly establish their territory.

Let us see where we close. :thumb:

 

[travi]

Yes I am aware of that. What I was referring to was the volume at that strike. The COI at 8000 pe is 4 lacs, but volume at 1.1 lac. But 8200 pe COI is 9 lacs but volume is only 60000.

I agree with your view that OI at 8000 pe is 74 lacs so market seems to think that it is a good support. But haven't we all see how fast OI data can change with one single swift move?

Ok.
The volume difference is just 40k Though not huge.
And even though 8200PE is ITM, COI is +ve 9L, therefore, more options written, compared to 4L COI of 8000PE which is all the more bullish.

 

[NoviceStockTrader]

Ok.
The volume difference is just 40k Though not huge.
And even though 8200PE is ITM, COI is +ve 9L, therefore, more options written, compared to 4L COI of 8000PE which is all the more bullish.

Yes but the OI at 8200 is only 26 lacs and OI at 8100 is at 27 lacs as opposed to 8000 pe at 73 lacs. Thats a significant difference. While it may be bullish for the day, for the market to become overall bullish, at least OI for 8100 pe should far exceed the OI at 8000 pe. Am I right here?

Let us see how it develops over the next few days. We still are in November. So lots of time left.

Sir, How far higher do you see the market going?

Thanks!