NIFTY Options trade : Why and what-if...

[kmgsm]

NIfty just broke out of its 10 day range... why loose patience after the move has started...?

Yes Linkonji, shouldn't have lost patience. I was carrying shorts from 5617 and my target was 5443. So booked profit around 5435. Maybe I'm wrong in keeping a fixed target. I'll enter again if it breaks today's low. Let's see what market has in store for us

 

[linkon7]

5463 is the trend decider for the day....

any further upside is above this lvl only...

tgt of 5355 and 5177 is now on the cards...

 

[linkon7]

chart pattern looks like a copy of 2nd may...

 

[linkon7]

expecting a range bound day...between 5424 and 5454... fade the extreme... with double qty at reversal at sl point....

might turn out to be a day of chindi chori....

 

[linkon7]

there are 2 questions one must ask himself.... always...

1. What is the market trying to do...?
2. Is it doing a good job at what it is trying to do...?

Dalton ka 2 question always gives you the impetus to build your position accordingly...

so far..
1. market is trying to go up...
2. its doing a pathetic job as selling keeps coming at lower lvl... supply zone was...5700... 5600-5620... 5550-5570.....5500-5520.... and now 5450-5465

But momentum is totally missing... this single factor is the reason for many misery among day traders this month....

market says....cant help it... live with it... either stay out..or trade accordingly...

 

[kmgsm]

there are 2 questions one must ask himself.... always...

1. What is the market trying to do...?
2. Is it doing a good job at what it is trying to do...?

Will keep that in mind, Linkonji

 

[linkon7]

5400 put has huge OI...and this is promting many to square off their shorts...
since panic is not visible on the screen...

placed buy trigger at 49.95 for 5400 put... its hod...!

 

[linkon7]

5400 put has huge OI...and this is promting many to square off their shorts...
since panic is not visible on the screen...

placed buy trigger at 49.95 for 5400 put... its hod...!

hit.. 75% exit at 56...sl at 40...

 

[linkon7]

hit.. 75% exit at 56...sl at 40...

settled for 55.50 for 75% qty...

other 25% now free... 5500 put of yesterday is ITM so delta is good...

5355 is first exit...

 

[linkon7]

5400 baj gaye hai...lekin party abhi baki hai....
ba ba ba baaa

bulls hai naraaj lekin party abhi baki hai....
ba ba ba baaa