NIFTY Options Trading by RAJ

[Option.Trader]

Morning All,

Upper breakout - 6093.55, TGT - 6113.35, SL - 6044.80
Lower breakout - 6033.75, TGT - 6014.15, SL - 6082

My View:
Looking at the India VIX currently, it looks like we may see a sharp downmove today.

So, the chances of lower breakout seems to be more than the upper one.

Its better to wait patiently for either of the breakouts to sustain before executing any trades.

I had posted in one of my earlier thread to avoid this breakout strategy if either of the levels are not sustained before 2PM. So kindly adhere to it.

Happy Trading!

For anyone following , trigger is on after sustaining 2:36-2:46.tgt approaching

 

[Option.Trader]

For anyone following , trigger is on after sustaining 2:36-2:46.tgt approaching

Done, the most consistent of strategies

 

[singlap]

yes. But , couldn't do today as breakout happened after 2 p.m.

 

[anup]

yes. But , couldn't do today as breakout happened after 2 p.m.

Exactly, As per Baba we should ot trade if the trigger is after 2pm

 

[Option.Trader]

Exactly, As per Baba we should ot trade if the trigger is after 2pm

Oh, dammit, so many twist and turns for a consistent rule based 20 points

 

[anup]

Oh, dammit, so many twist and turns for a consistent rule based 20 points

OT Bhai, Cant help it..When we are following a system we have to adhere by its rules...

 

[Option.Trader]

OT Bhai, Cant help it..When we are following a system we have to adhere by its rules...

It's frustrating, on one hand you have to keep watching the screen and then watch it more for 10 consistent min. I would have loved a positional based, like I ventured into buying 6050 call @27, when nifty was at 5975. I could not hold to milk it completely though

 

[healthraj]

Missed this Rally from 5973.

Missed this Rally completely from 5973 because I was always looking at the 60min chart.

So I am just thinking whether to use 30 min chart instead of 60 min chart for the Entry Signals ?

Today the Rally was also due to the Iran news in Oil Stocks, which I completely missed.

So as per the 30 min Trend the Top would be around 6150. For Short holders the only hope is the MAX Pain @ 6100. Hope 6100 remains.
The Pivot is at 6070 and so if the NIFTY trades as per the Trend and if there is no BREAKOUT, then Expiry also would be around 6070 SPOT

So those who did not play for the MAX Pain at 5973 can try around 6130-6150 for Target of 6070. Keep a watch on the MAX Pain

 

[prabhsingh]

Raj,

We did not saw any unwinding of 6100CE position for December series.Even in 6000CE series there was a fraction of unwinding happening.Does that means people are still reluctant on this upside.

Also Nifty retraced exactly 0.618 from 6212 to 5973 which is 6120.If 6212 gets broken then its sign of highly bullishness.

 

[healthraj]

Raj,

We did not saw any unwinding of 6100CE position for December series.Even in 6000CE series there was a fraction of unwinding happening.Does that means people are still reluctant on this upside.

Also Nifty retraced exactly 0.618 from 6212 to 5973 which is 6120.If 6212 gets broken then its sign of highly bullishness.

I have still not Seriously looked at DEC-13 Series. Going by the OI build up Yes DEC-13 would be 500 point RALLY from 6000. May be it is already started from 5973