Long or Short Opinion

[scplindia]

I wrote many points about option trading last week. It goes against one of the rules. It is better to trade them daily than holding over night.

please reproduce them in this thread

 

[simple_trader]

Though I was expecting retrace today, NIFTY did not do it properly. It was not clear which way it wants to move immediately. Only thing was clear that people were writing 5200 call put pair. 5200 call was able to hold good premium in initial trade. Does it suggest we have more up side left in this series?

 

[simple_trader]

please reproduce them in this thread

There are a couple of tricks to fight with writers.

- Do not get a trap of writers around from Wednesday after noon. they will be active to trap buyers till Friday.
- Do be a bit careful about buying option around mid of a month. 2nd last week is approaching, hence writers are active. Mostly price decay around this time.
- Play buy side first a few days of a series and last 3 days.
- Also do not hold option buy unless you are in big profit.
- Also learn, how to play option hedge in intraday to fight with writers.

Given all these, still writers have upper hand in option trading!

 

[alroyraj]

Undergoing Wolve Wave on Nifty Future. Check it and please give your views: -

As per the charts it seems possible.
Your earlier post on reaching 5300 way back in March was on target. It did seem outrageous at that point but imagine being able to capture this action. However how to choose the right contract for this: July or August futures?
Sometimes these positional trades seem simple compared to grinding out points intraday even though at the end of each day we know our position compared to the elusive future expected position.
So how to trade this...rajputz . Your thoughts are appreciated.

 

[scplindia]

Though I was expecting retrace today, NIFTY did not do it properly. It was not clear which way it wants to move immediately. Only thing was clear that people were writing 5200 call put pair. 5200 call was able to hold good premium in initial trade. Does it suggest we have more up side left in this series?

The trend is up, but my gut feeling says that, nifty has run out of steam, and is looking for energy from outside, buyers have vanished now hence moment is lost. Sellers have not surfaced yet as they are looking for support to step in, in terms of news etc..

 

[goodstocks]

Dear Rajputz,
I think instead of posting several charts of several stocks, I would suggest you that you should scrutinise them and present only one /two charts of stocks that would make a clear up or down move the nextday in you opinion which would be easy to follow.

 

[findvikas]

if this wolf wave is correct, then we are talking of a correction upto 4900 level, hope my interpretation is correct.

I had seen this on last Friday in the making but the volume was lackluster... past two days volume was supportive and this looks good to hold. It should stay below 5235-5245 in NF on closing basis to make it a good pattern and return from here... one can go short below 5140 to be on safer side per me target is below 4800 but it can come sooner as soon as we hit the target line...

 

[rajputz]

Dear Rajputz,
I think instead of posting several charts of several stocks, I would suggest you that you should scrutinise them and present only one /two charts of stocks that would make a clear up or down move the nextday in you opinion which would be easy to follow.

Thanks for input buddy. I am myself working on the same. That is the main reason, that rather then giving many stocks, i Just posted the Charts of ITC yesterday, as i intended to take position in it myself. These days i am trying to get some high probability positive trades in stocks on my direction and Nifty.

 

[rajputz]

As per the charts it seems possible.
Your earlier post on reaching 5300 way back in March was on target. It did seem outrageous at that point but imagine being able to capture this action. However how to choose the right contract for this: July or August futures?
Sometimes these positional trades seem simple compared to grinding out points intraday even though at the end of each day we know our position compared to the elusive future expected position.
So how to trade this...rajputz . Your thoughts are appreciated.

This month expiry, i am expecting a close near 5000-5100. But thats totally on the pattern and volume based movement. Not my indicator based system.

If i follow my indicator based system then i havent got any exit yet. I will get the exit when the below mentioned cci line crosses and closes below or at +100 line. See the arrow marked. The CCI is between +100 and +200 at 157. Once it retraces to +100, it will be exit from longs. Till then market can either give a fall, or sideways movement.

 

[rajputz]

The trend is up, but my gut feeling says that, nifty has run out of steam, and is looking for energy from outside, buyers have vanished now hence moment is lost. Sellers have not surfaced yet as they are looking for support to step in, in terms of news etc..

That is the main reason that is puzzling the movement from last few days. There is no lot of interest shown in volumes. But then i think that as a trader we just need the points to gain some money. Nifty always has that much volume to entertain us. So rather then worrying about the volumes, i just kept it as a weak sign of market and always ready to reverse the position if necessary.