NIFTY Options Trading by RAJ

[healthraj]

sir having 6400nov put @ 220 any advice trading @ 144
and any advice on tatasteel

I don't know what to Tell. Hope you bought when the market was at 6220.

You can Try closing now with Loss or You can average the Positions when the NIFTY SPOT is around 6330. Assuming it Trades in the Range, NIFTY should touch at least 6220 again.

So what did you finally do with your Position?

 

[ss16021981]

sir i fill i can c 220 again tommorow as it close @ 209 let see

 

[BabaMagic]

Dear All,

On the Candlestick Charts, Nifty Spot has formed a "Three Black Crows Bearish" Pattern. i.e. All the 3 candles for the last 3 days closes near or at the day's lows & makes new lows in each day.

This pattern is formed when the prices are in overbought conditions & indicates a sign that the bulls have lack of conviction in the current uptrend. This uptrend has now reached levels where the bears have started to short the market.

This pattern occurs very rarely. However, when it occurs traders should be very alert, because their appearance indicates a period of strong selling pressure and hence the reliability of this pattern is likely to be very high.

So if tomorrow Nifty fails to show any strength, it would be relevant to close your longs & possibly initiate a short.

Unable to upload the chart due to flash player issue on my mobile.

Cordially,

Ashesh (BabaMagic)

 

[VJAY]

 

[healthraj]

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

In NIFTY and BANKNIFTY, Please close the Longs if the Stoploss is hit. I have taken only the Option positions 6350CE@50 and I am still holding it.

In the hourly chart if you notice, the SELL is continuing from 6287. So even if the down move needs to continue, There will be definitely a pull back to 6206 SPOT for the Down move to continue. So those who are confident that the move will reverse, hold your positions Otherwise it would be better to close and be at Peace.

 

[Option.Trader]

Dear All,

On the Candlestick Charts, Nifty Spot has formed a "Three Black Crows Bearish" Pattern. i.e. All the 3 candles for the last 3 days closes near or at the day's lows & makes new lows in each day.

This pattern is formed when the prices are in overbought conditions & indicates a sign that the bulls have lack of conviction in the current uptrend. This uptrend has now reached levels where the bears have started to short the market.

This pattern occurs very rarely. However, when it occurs traders should be very alert, because their appearance indicates a period of strong selling pressure and hence the reliability of this pattern is likely to be very high.

So if tomorrow Nifty fails to show any strength, it would be relevant to close your longs & possibly initiate a short.

Unable to upload the chart due to flash player issue on my mobile.

Cordially,

Ashesh (BabaMagic)

What are the levels for today, no access to PC

 

[BabaMagic]

Nifty Spot Levels:
Upper Breakout - 6188.50
Lower Breakout - 6136.50

 

[avny]

In NIFTY and BANKNIFTY, Please close the Longs if the Stoploss is hit. I have taken only the Option positions 6350CE@50 and I am still holding it.

In the hourly chart if you notice, the SELL is continuing from 6287. So even if the down move needs to continue, There will be definitely a pull back to 6206 SPOT for the Down move to continue. So those who are confident that the move will reverse, hold your positions Otherwise it would be better to close and be at Peace.

hi raj,

what SL do you suggest for 6350 CE?

thanks

 

[healthraj]

In the 6 minute chart the First BUY was Generated at 6165 and the market corrected 10 points. The Second BUY signal was generated at 6156. So those who want to Go Long can go now at 6160-6165 and have 6140 as the Stoploss. The Pivot is at 6180, which if Crossed strongly like Yesterday will be confirmation for the LONG.

So watch for the Key levels

Buy around 6160, Stoploss 6140. Below 6140 - SELL
Confirmation for Long at 6180 and the Next resistance above 6180 would be 6220.

 

[healthraj]

hi raj,

what SL do you suggest for 6350 CE?

thanks

Below 6140 NIFTY SPOT, Please close the Long Call Options.