NIFTY Options Trading by RAJ

[Option.Trader]

Failed for the lower breakout level of 6259(had sustained this level for 10 mins) , hit the upper breakout of 6291 at 12:29, let's see if targets of 6310 are met

Just about managed to hold 6291 for 10 mins, let's see if it achieves 6310 before coming down... just watching as of now

 

[Option.Trader]

Just about managed to hold 6291 for 10 mins, let's see if it achieves 6310 before coming down... just watching as of now

Failed the upside target for upper end break out. So anyone trading today would have got hit at both ends, over to author to analyze from his end

 

[BabaMagic]

Dear OT,

It seems you have inserted the high's & low's of last friday's closing & not the muhurat trading day.

As per my Calculation(inserting the high & low of muhurat trading day)
Upper breakout level : 6281.30 ; TGT: 6301.70 (6281.30 +*0.325%)
Lower breakout level : 6269.90 ; TGT: 6249.50 (6269.90 - *0.325%)

& it seems both the levels & targets has been achieved. ( Plz pardon me about the sustainance timings for today(both sides) as i am not following the market due to personal committments).

Again i am not certain how effective it is to take the high & low of muhurat trading day as it was only for 1:15 hrs. So don't look too much into this strategy levels atleast for today.

Hope you are not holding any intraday positions based on my strategy.

Thanks!

 

[thiruwins]

Dear OT,

It seems you have inserted the high's & low's of last friday's closing & not the muhurat trading day.

As per my Calculation(inserting the high & low of muhurat trading day)
Upper breakout level : 6281.30 ; TGT: 6301.70 (6281.30 +*0.325%)
Lower breakout level : 6269.90 ; TGT: 6249.50 (6269.90 - *0.325%)

& it seems both the levels & targets has been achieved. ( Plz pardon me about the sustainance timings for today(both sides) as i am not following the market due to personal committments).

Again i am not certain how effective it is to take the high & low of muhurat trading day as it was only for 1:15 hrs. So don't look too much into this strategy levels atleast for today.

Hope you are not holding any intraday positions based on my strategy.

Thanks!

baba today bothside targets achieved is it trend changing day ?

 

[Option.Trader]

Dear OT,

It seems you have inserted the high's & low's of last friday's closing & not the muhurat trading day.

As per my Calculation(inserting the high & low of muhurat trading day)
Upper breakout level : 6281.30 ; TGT: 6301.70 (6281.30 +*0.325%)
Lower breakout level : 6269.90 ; TGT: 6249.50 (6269.90 - *0.325%)

& it seems both the levels & targets has been achieved. ( Plz pardon me about the sustainance timings for today(both sides) as i am not following the market due to personal committments).

Again i am not certain how effective it is to take the high & low of muhurat trading day as it was only for 1:15 hrs. So don't look too much into this strategy levels atleast for today.

Hope you are not holding any intraday positions based on my strategy.

Thanks!

I didn't think mahurath trading would be valid, fair enough, let's see tomorrow then

 

[BabaMagic]

Difficult to say at this juncture Thiru,

As my last trend change prediction failed miserably, I will be taking help of other chart indicators to see if today's movement confirms a trend change or not.

It will be interesting to see the EOD charts for
1. MACD
2. RSI
3. ADX
4. pSAR

 

[healthraj]

As per Options Chains data, the RESISTANCE for NIFTY is at 6400. The Hourly Trend is also on the UP Side. The MAX Pain is at 6200. So the immediate opportunity for tomorrow or Day after should be a Buy around 6200-6230 for a Target of minimum 120 points to 6350 or Higher. This Month it would be Largely a Range bound market and not Giving any major breakout on either side. So it would be good for Traders to make some money on Both sides. So the important thing is to make the assumption that the Market would be Range Bound. The Trend changer levels would be 6200. If 6200 Breaks then it can give 6000 in this month. Otherwise for every dip around 6200, it would be a BUY.

If we make the following assumptions
- Rangebound market
- Trend is UP side
Then from an Options Trading perspective it would be good to do Credit Spreads. (SELLING pairs).

 

[healthraj]

Today if you get NIFTY around 6295 SPOT, SELL for Target of 6225.
Or if you Get NIFTY SPOT around 6225, Buy for Target of 6295.

 

[Relish]

COI changes yesterday 6300CE - 5800 PE to 6600CE - 5700PE and Max OI same 6400CE - 6000PE and max pain 6200.

Does it means coming days will be upside or downside since COI widening everyday ?

 

[Option.Trader]

I didn't think mahurath trading would be valid, fair enough, let's see tomorrow then

Up breakout - 6285
Lower breakout - 6224
I hope there is no ambiguity in this.
I'm inclined to take a short at 6305 levels with stop loss of 6317, just to play the small gap down