My Daily Options Trading Diary

[stockBond]

You are holding calls.........but your advice would be not to hold the options?:annoyed:

I mean not hold them for long (may be 3-4 days) as time value dies away

 

[mayavi99]

Vikas, Sold IFCI 60CA @ 1.30(a net plus of 3800); entered into Suzlon 90CA @ 4.00(LTP 3.10 ) & TTML 35CA@ 0.90(LTP 0.75). Position in Bharti continues. In the afternoon, shorted minifty @ 5005 & covered @ 4985. A plus 4k in the liquidated positions for today.

 

[MurAtt]

hmm --- I exited my TISCO at 25.1 (almost EOD when the mkts fell). Also Suzlon at 3.25 and switched to Suzlon later to 85CA when it fell still @5/-.
Bot 5000PE @ 153/-.
Overall
TISCO 3.75x764=2865/-
Suzlon .15*3000=450/- (basically brokerage covered)

 

[MurAtt]

TISCO has a down target of 460-480 per me.

Even after today's close TISCO is showing some strength. Will try to re-enter 2morrow at a good time ...

 

[itzarvind]

What About TTML 35CA SM? Are you holding it

Regards,
Arvind

 

[MurAtt]

Nopes -- Had given a buy order at 55p, never came ...
2morrow will keep track of that too ....

Some weakness is there in Suzlon, TTML (inside day formed), Bharti and even Nifty Futures and Options OI seems to suggest more downsides, at least 4940 and 4920 (which is solid support and has been tested too once)

BUT

Reliance declaring a 1:1 bonus may make some irregularities in the extreme short term and some euphoria may be seen.
Options we have :
1. We open down and then bounce up w/o RIL bouncing (bcoz the results are bad)
2. We open high and from mid-afternoon we start falling to bounce back up at an appropriate time in the near future (3-7 days)
3. Nothing happens, SM knows Bonus is bcoz of bad results so the bonus and results negate each other!!!
4. Something new the market will teach us ....
I will take action according to market position ....

 

[itzarvind]

SM,

Do let me know once you take appropriate action..

Your comments are highly respected and appreciated.

Regards,
Arvind

 

[findvikas]

Even after today's close TISCO is showing some strength. Will try to re-enter 2morrow at a good time ...

I got some news from my broker that TISCO has a short term target of 580... DO NOT GO BY MY WORDS... it could be speculation

 

[findvikas]

Bharti showing signs of strength to me, SM, where do you see weakness?

Its Futures OI has decreased with falling price that is clear indication that shorts covering is coming and if you look at the volume spread then it traded with very small range today and accumulation can be seen at lower levels in intraday chart.

Date  		LTP  	Open Int   Change in OI
1-Oct-09	437	14626500	-214000
5-Oct-09	402.4	21016000	6389500
6-Oct-09	359.2	29694000	8678000
7-Oct-09	358.8	29457500	-236500

It may trade a day or two into consolidation & accumulation phase and then with the week gone by and news fading out it should bounce back to surprise everyone. How can we forget about its strong fundamentals and above 20% net profit expectancy.

EDIT: I still hold my short term targets as 375,390,405

 

[AW10]

Vikas, 2 Lac of change in OI, with respect to 86 lac of yesterday is insignificant.
In volumn analysis, I will take this as rounding error. At least to me, it doesn't show any change of momentum, not even weakening.

Chk out the shift in volumn on delivery basis ie. spot volume. It has been falling with huge volume.

Ofcourse, that doesn't mean that it can't bounce back.. It might, but that just makes the job of breaking resistence level more difficult.

Happy Trading