NIFTY Options Trading by RAJ

[Option.Trader]

Hopefully 6295 SPOT should be Tested in the Opening. Better book the Short positions around 6295 - 6300. If 6295 breaks you can hold for another 30 points till 6270. But SGX NIFTY points to only 30 points which would be 6332-~30 = ~6302.

Yes the Range keeps on changing. The Long Calls and Puts are not giving great Profit. At least the Long Calls did not Give great profit even when the market made 400 points from 6030. The Puts are also not giving anything. May be the BIG MOVE is still pending


The MAX Pain also changed to 6200, 6300, 6250 and now to 6200. The MAX OI is once again 6200-6400.

So it is the confusing times. So we can only follow the Price action and the Intermediate Trend is Down and Still not bottomed out I think

With shifting of Max pain to 6200, do you think that down leg still has some legs till 6200?

 

[healthraj]

With shifting of Max pain to 6200, do you think that down leg still has some legs till 6200?

It should be a Strong Breakdown by which the Buy Levels of 6238 and 6150 Can be met. For a Strong Breakdown we should first see a Wolf Wave pattern or an Inverted W on the Support Line of 6300. Right now as per the Chart it is just now hitting 6300 and it would definitely bounce on the First hit.

 

[healthraj]

Book Complete profit in ICICIBANK @ 1180 - 20 points profit

1160PE Trading at 25.7 - 4.7 points profit

Enjoy those who traded. :clap:

If you are a positional trader, book 50% now and look for 1145-1150

The Positional Target of 1150 is met today from 1200 - 50 points profit in two days

 

[healthraj]

Hopefully 6295 SPOT should be Tested in the Opening. Better book the Short positions around 6295 - 6300. If 6295 breaks you can hold for another 30 points till 6270. But SGX NIFTY points to only 30 points which would be 6332-~30 = ~6302.

6295 SPOT Met. Safe traders can close their short positions

 

[healthraj]

NIFTY, SBIN, ICICIBANK

All the above three are as per the Price Action are Trading below the Support and thus Generating BUY signal. It is also not a Breakdown. So those who want to Take Risk Can buy now at the current levels

NIFTY - Buy around 6290-6300 - Stoploss 6260
SBIN - Buy above 1825 - Stoploss 1800
ICICIBANK - Buy above 1841 - Stoploss 1820

Note : These Levels are per the 60 min Timeframe.

 

[manojborle]

Update:

Uploaded with ImageShack.us

UPDATE:

Uploaded with ImageShack.us

 

[manoshare]

can anybody tell me where can i get max pain reading plz..........

 

[healthraj]

can anybody tell me where can i get max pain reading plz..........

You can calculate yourself. Click on one of my links in the Signature. You can download the excel file to calculate the MAX Pain. Otherwise some use a Tool called Options Oracle. You can also see it in the tool OAT...

 

[healthraj]

NIFTY, SBIN, ICICIBANK

All the above three are as per the Price Action are Trading below the Support and thus Generating BUY signal. It is also not a Breakdown. So those who want to Take Risk Can buy now at the current levels

NIFTY - Buy around 6290-6300 - Stoploss 6260
SBIN - Buy above 1825 - Stoploss 1800
ICICIBANK - Buy above 1841 - Stoploss 1820

Note : These Levels are per the 60 min Timeframe.

ICICIBANK quick profit of 11 points

 

[BabaMagic]

Morning All,

Nifty Spot breakout levels for today.
Upper Breakout - 6315, TGT1 - 6335.50, TGT2 - 6356, SL - 6264.50
Lower Breakout - 6288.60, TGT1 - 6268.20, TGT2 - 6247.80, SL - 6338.90

Happy Trading!