NIFTY Options Trading by RAJ

[healthraj]

SBIN Result on Tomorrow

Tomorrow we have the results of one of the heavy weight SBIN. So NIFTY will be managed SBIN and BANKNIFTY tomorrow.

Looking at the Options.

MAX OI @ 2400-2500. So 2500 Should act as the Resistance.


Looking at the Charts,

LTF Levels RESISTANCE @ 2444, Support @ 2404. Pivot @ 2424
HTF Levels - It is in Channel and the Levels are same as above.

Daily Futures Charts Levels
- HAs been in correction and forming a channel from 22-MAY after forming a top of around 2840.

Channel Resistance @ 2570, Support @ 2365, Pivot @ 2467.
In the Major Trend SBIN is trading below S1. Daily Chart Levels

S2@ 2385, S1 @ 2572, Pivot @ 2749, R1@ 2926, R2 @ 3112.

Trading Strategy,

In both the LTF and HTF, SBIN is above the Resistance (SELL Triggered) and may be will breakout tomorrow or will Test 2365/85 First.

BUY Around 2365/85.

SELL if Does not cross 2572.

Will post the charts by today Evening.

 

[Option.Trader]

SBIN Result on Tomorrow

Tomorrow we have the results of one of the heavy weight SBIN. So NIFTY will be managed SBIN and BANKNIFTY tomorrow.

Looking at the Options.

MAX OI @ 2400-2500. So 2500 Should act as the Resistance.


Looking at the Charts,

LTF Levels RESISTANCE @ 2444, Support @ 2404. Pivot @ 2424
HTF Levels - It is in Channel and the Levels are same as above.

Daily Futures Charts Levels
- HAs been in correction and forming a channel from 22-MAY after forming a top of around 2840.

Channel Resistance @ 2570, Support @ 2365, Pivot @ 2467.
In the Major Trend SBIN is trading below S1. Daily Chart Levels

S2@ 2385, S1 @ 2572, Pivot @ 2749, R1@ 2926, R2 @ 3112.

Trading Strategy,

In both the LTF and HTF, SBIN is above the Resistance (SELL Triggered) and may be will breakout tomorrow or will Test 2365/85 First.

BUY Around 2365/85.

SELL if Does not cross 2572.

Will post the charts by today Evening.

Also nifty charts please

 

[timepass]

Will SBIN results be declared during the market hours ? at what time ?

 

[healthraj]

Not much volume in Options. Hope the Operators are pushing the market to 7700.

MAX COI at 7500-8000. MAX OI @ 7300-8000.

In the HTF there is a Channel with Low as 7653 SPOT (S1 in HTF) and HIGH As 7780 (R1 in HTF)

In LTF BUY Triggered below the Channel Support (7653), The minor Channel Resistance is at 7680.

If 7680 is broken then the targets are 7705 (LTF S1) , 7740 (LTF R1)

So today 7650 provided a Good support in the morning.
Tested once 7685 - did not break - Made low of 7639 - Once again the Channel support working - Of course with Stoploss .
Made High 7705, breaking the Channel Resistance at 7680.
Once Again came within the channel and made low 7631 and closing at 7649.

Unless you have a good charting software, very difficult to Trade today.

 

[Option.Trader]

The more I look at it, part time trading looks onerous

 

[rajesh_]

Hi raj, what do you think of tomorrow? Bullish or bearish? Fridays mostly close with negative. Please let me know your view.

 

[healthraj]

The more I look at it, part time trading looks onerous

I think you should look at Hourly charts and do some Pair Trading. With Hourly charts you will anyway get only few entries and exits.

 

[healthraj]

Hi raj, what do you think of tomorrow? Bullish or bearish? Fridays mostly close with negative. Please let me know your view.

I am not sure about how NIFTY will close because I consciously do not want to condition my mind - Trying hard .

To my point of view, in the Daily charts the Trend looks Positive and there are no indicators to suggest a Panic SELLing.

So there is only one level to Watch which is the Daily Futures Support 2, Weekly Futures Resistance 1, which is between 7610 and 7620. So for any meaningful Rally this Level might be tested once again. Normally at this crucial levels it will be very volatile like it happened today

So if you have taken a SELL around 7700 for example, you can wait till it touches 7620, close your SELL and Watch the market.

Looking at the Hourly Charts to me it seems to be forming a Double bottom at 7600.

7650 - 7550 Can be avoided for people who do not want to Take risk.

BUY Above 7650 - Target 7950 (Daily Futures Pivot and Daily Minor Trend Resistance) - 300 points
SELL BELOW 7550 - Target 7250 (Weekly Futures Pivot) - 300 points

Since there is anyway 300 points above 7650 and below 7550, Why to waste your money in Volatile trading. Let the BULLS and BEARs do their fighting and decide. We are neither Bears nor Bulls

 

[Option.Trader]

I think you should look at Hourly charts and do some Pair Trading. With Hourly charts you will anyway get only few entries and exits.

Wish I could, but with office duties you hardly get any chart watching, you just take a call based on previous days chart. At present its a losing battle, let's see

 

[healthraj]

SBIN Result on Tomorrow

Tomorrow we have the results of one of the heavy weight SBIN. So NIFTY will be managed SBIN and BANKNIFTY tomorrow.

Looking at the Options.

MAX OI @ 2400-2500. So 2500 Should act as the Resistance.


Looking at the Charts,

LTF Levels RESISTANCE @ 2444, Support @ 2404. Pivot @ 2424
HTF Levels - It is in Channel and the Levels are same as above.

Daily Futures Charts Levels
- HAs been in correction and forming a channel from 22-MAY after forming a top of around 2840.

Channel Resistance @ 2570, Support @ 2365, Pivot @ 2467.
In the Major Trend SBIN is trading below S1. Daily Chart Levels

S2@ 2385, S1 @ 2572, Pivot @ 2749, R1@ 2926, R2 @ 3112.

Trading Strategy,

In both the LTF and HTF, SBIN is above the Resistance (SELL Triggered) and may be will breakout tomorrow or will Test 2365/85 First.

BUY Around 2365/85.

SELL if Does not cross 2572.

Will post the charts by today Evening.

SBIN Charts

Daily

LTF