NIFTY Options Trading by RAJ

[babumehta]

Could not update during market hours. As mentioned in the morning, since 6040 SPOT was broken, closed all my Long positions and went short and closed Short around 5990 for 50 points.

For this down move the Short started from 6205 and so 240 points from 6205 would be 5965. So tomorrow we should see 5965. As per the 60 minute chart the Support is at 5952. So I hope there is some more left on the downside. Today the MAX OI or the Trading Range changed from 6000-6300 to 6000-6200. And when the MAX OI changed from 6300 to 6200 the down move was in Full swing. I am not sure how many noticed that :thumb:

Now Everybody is saying that in this Series 5800 should be possible. For 5800, the MAX OI should be changed from 6000PE to 5800PE. So watch the MAX OI at PE for further down movement. Otherwise at 5950-70, I think it would be a Opportunity for a BUY once again.

Today I was looking at 60 minute and 15 minute chart. In the 60 minute chart it was straight line from 6204 and no respect for 6100 was shown. In the 15 minute chart Every rise was being short. The moment it touched the Pivot in the 15 minute chart near 6031 @ 14:30 pm, the SELL started.

Dear Raj, thanks for sharing your vast knowledge. One question 60 minute and 15 minute chart do u look at that in OAT tool or some other website? also how to figure out 5952 as support from that chart?

 

[VJAY]

Dear raj,
When pivot/TL break up/down in any tf eg-10/30/hrly in charts how can you find this BO/BD is strong or weak by your tool....please explain it ...you allready explained it ...but still am not getting it right

 

[dprikka]

Thanks Raj sir
Actually there are two links on NSE site that's why i was confused.
Other link is http://www.nseindia.com/live_market/dynaContent/live_watch/option_chain/optionKeys.jsp?symbolCode=-10006&symbol=NIFTY&symbol=NIFTY&instrument=OPTIDX&date=-&segmentLink=17&segmentLink=17
Thanks

 

[singlap]

What are breakout levels for today , babamagic formula ?

 

[anup0212]

What are breakout levels for today , babamagic formula ?

Upper Breakout 6063.7275
Lower Breakout 5990.5225
uoside tgt6083
Target
downside tgt 5971.053302

 

[healthraj]

Dear raj,
When pivot/TL break up/down in any tf eg-10/30/hrly in charts how can you find this BO/BD is strong or weak by your tool....please explain it ...you allready explained it ...but still am not getting it right

From the 15min/30min charts, Previously I used to take the Support and Resistance and Try for Breakout at RESISTANCE and Try for BREAKDOWN at SUPPORT. But since the NIFTY is Rangebound or Follows the Channel the BO/BD fails most of the time. So instead of SELLING at SUPPORT, NOW I am suggesting to SELL at RESISTANCE and BUY at SUPPORT, so that first of all you have a Safe Stoploss and you can leave the positions for BO/BD to happen. To be Extrasafe, you can always book Partial profit at SUPPORT and RESISTANCE levels so that even if there is no BO/BD, you can close the positions at Cost.

So the Important thing is to have a Rangebound and Follow the Trend mindset and Not specifically Trading for BO/BD.

If somebody really wants to always Trade the BO @ RESISTANCE and BD @ SUPPORT then it might probably work in 3 min / 1 min or may be in 5min chart.

In the 15min/30min/60min chart it would be good to SELL at RESISTANCE and BUY at SUPPORT

 

[healthraj]

NIFTY Today.

NIFTY today Tested the Pivot in 60min chart at 6040 and came down, thus trigerring a SELL @ 6040. As told yesterday since the 60 min Trend Channel Support is at around 5950/70, a slight pullback was needed to make the full 60 point. In the 15 min chart the Trend is Still UP, and it would probably Test 6040 again before going down 5970. So there might be another SELLING opportunity.

Keep a Watch on 5985-5990. If goes below this level then it would give another 30 points and we should close ALL the Short positions and BE on Sidelines for the next opportunity.

The next major Opportunity to my mind is in the UP side for Three major Reasons
1. The Trendline support is at 5950 and it will act as the Major Support.
2. The NOV-13 Series MAX OI at 6000-6300. So 6000 should act as the Major support. This Series is coming to an end and the MAX Pain is also at 6100. So NIFTY nead 5970 should be used as opportunity to trade for 120 points on the UP side.
3. Now that the NOV-13 Series is coming to an End, Looking at the DEC-13 Series MAX OI, it is indicating a Range of 6000-6500. So once again a Buying opportunity to get 6250/6500. Even if 5950 breaks 5874 the 200 DMA will act as the support.

 

[healthraj]

Dear Raj, thanks for sharing your vast knowledge. One question 60 minute and 15 minute chart do u look at that in OAT tool or some other website? also how to figure out 5952 as support from that chart?

I have incorporated this in the next version of OAT. I have explained the logic in the post Wednesday's post where I have used the Excel functions like STEYX and the Stock VOLT from FOVOLT. So I will try and upload this version after one or two weeks once I feel that it is working to some 70% accuracy. It is basically the Trendline which People draw in the chart. But I have used a different approach of first finding out the Trendline and then drawing the SUPPORT and RESISTANCE line below and above the Trendline using the Statistical function of Standard Deviation or Standard Error. Excel function STEYX basically gives you the Standard Error of the set of Values

 

[healthraj]

Thanks Raj sir
Actually there are two links on NSE site that's why i was confused.
Other link is http://www.nseindia.com/live_market/dynaContent/live_watch/option_chain/optionKeys.jsp?symbolCode=-10006&symbol=NIFTY&symbol=NIFTY&instrument=OPTIDX&date=-&segmentLink=17&segmentLink=17
Thanks

Use the link that I had provided where you can use the Scrip code and it also shows the latest Adjusted data after the market close

 

[sach007]

Raj BHAI .. today I have downloaded OAT TOOL for the first time.. and when I opened it .. it is giving some message...

Is it normal..thing or some error?

Thanks in advance.

SACH