NIFTY Options Trading by RAJ

[BabaMagic]

Shorted Nifty Futures at 6275.50.
TGT 6184 ON Nifty Spot.

 

[healthraj]

SHORT In Progress. 6230 SPOT and 6200 SPOT could be next SUPPORT Levels. Those who took the Short around 6275 Levels can book 30 points profit at current Levels of 6240

A combination of OAT and Price movement has given good profit today.

MAX Pain at 6200 and so Long around 6220 - 60 points profit.
NIFTY hit the Pivot in the hourly chart around 6290. And so short around 6275 (confirmed below 6260) - 60 points on the downside.

BANKNIFTY - did not trade the Long. But the MAX Pain at 11400 acted the RESISTANCE and Short around 11400 Levels - So far 280 points.

For BANKNIFTY 11000 is next SUPPORT.

For NIFTY since it has broken the previous support of 6210, 50 points from there would be 6160, which might act as the Support

 

[BabaMagic]

Covered Nifty futures at 6224.70.:clap::clap:

 

[healthraj]

The Last 1% is always very difficult to Get. So better to close the Short positions in NIFTY and BANKNIFTY at the current levels and be happy with what we got.

Around 120 points in NIFTY. 300 points in BANKNIFTY should be enough for one week

 

[healthraj]

Shorted Nifty Futures at 6275.50.
TGT 6184 ON Nifty Spot.

6185 was super - So you had taken 25 points from 6210. Yes the last 25 points in NIFTY is always difficult to get

 

[BabaMagic]

Hello Raj Sir,

I took the lower breakout level of 6204.70 -*0.325% = 6184.50.

We might also see 6204.70 -*0.70% = 6161.30 on Nifty Spot in the last 30 minutes.

But i am done for the day.

Super Day... Indeed!

 

[healthraj]

6200 is Still bullish and so 6200 might not be broken today. May be it will take some time to break it. Since the MAX OI @ PE for BANKNIFTY is at 11000, it might give an intermediate bounce to NIFTY.

So expecting below 6170 at this level might not be Good. The IVs are still low and so those who want to Trade options can sell the pair 6100-6300 @ 133 OR the Pair 6000-6300 @ 113.

Me personally since my assumption for this month is Range bound, I am expecting a SHARP bounce back on the UP side. Let us see.

But Long only above the Trend Line Support of 6217 SPOT OR WHEN the BANKNIFTY SPOT is around 11000

 

[prabhsingh]

Nifty SPOT 6180 is very strong trendline.Hence nifty closing below this point wont be good for the bulls.

 

[healthraj]

Those Who Want to Trade Naked Options can Buy 6350CE @ around 50-52

 

[healthraj]

6200 is Still bullish and so 6200 might not be broken today. May be it will take some time to break it. Since the MAX OI @ PE for BANKNIFTY is at 11000, it might give an intermediate bounce to NIFTY.

So expecting below 6170 at this level might not be Good. The IVs are still low and so those who want to Trade options can sell the pair 6100-6300 @ 133 OR the Pair 6000-6300 @ 113.

Me personally since my assumption for this month is Range bound, I am expecting a SHARP bounce back on the UP side. Let us see.

But Long only above the Trend Line Support of 6217 SPOT OR WHEN the BANKNIFTY SPOT is around 11000

BANKNIFTY is near 11000 (11025). So those who want to GO Long Can Go Long now in NIFTY (6181) or BANKNIFTY (11025) at the Current Levels. My opinion is that the UP move will be SHARP so it might be only for POSITIONAL Traders so better to take a small risk and buy minimum quantities.

Option BUY 6350CE @ 50/52