NIFTY Options Trading by RAJ

[healthraj]

Those who are Holding the Shorts, The resistance levels as per the Hourly charts are at 5390 , 5360, 5330 and 5300. All are SPOT levels.

 

[Option.Trader]

Those who are Holding the Shorts, The resistance levels as per the Hourly charts are at 5390 , 5360, 5330 and 5300. All are SPOT levels.

Would you be comfortable holding shorts overnight?

 

[healthraj]

Would you be comfortable holding shorts overnight?

In the 60 minute chart, the Wedge pattern has now transformed to a Triangle pattern and so if it closes below 5380, it can goto 5300. So yes if 5380 breaks then I will hold

 

[Option.Trader]

In the 60 minute chart, the Wedge pattern has now transformed to a Triangle pattern and so if it closes below 5380, it can goto 5300. So yes if 5380 breaks then I will hold

Bulls have got a small victory by reclaiming 5300 put. 77l is OI, with 12l being added today

 

[futures]

In the 30 min chart there is a BEAR FLAG which is heading South. The Support line @ 5394 is broken

In the 60 min Chart there is a Channel with the Resistance at 5410 and the Support at 5280. In the 60 minute chart, NIFTY is heading south towards 5280. Those who are still doubting the SHORT can safely sell below 5370.

Raj,

I have been a silent reader of your thread and i enjoy your analysis on OI.

I couldn't help resist this post and ignore if you think its out of place.

When you took those puts(5400PE) with a SL, i thought it is a strict stoploss and in the past, i don't remember you justifying your positions based on flags,pennants, triangles and so forth. But, it was really strange from you to confirm your bias by bringing in all type of geometrical figures.

In psychology, this is called 'Confirmation bias' - tendency to look for , favor and be overly persuaded by info that confirms with our initial impressions .. on the other hand, we tend to ignore and dismiss information which tends to 'disprove' our initial impressions...so, in this case, it seems that you were looking for outside confirmations that were confirming to your initial bias.

We all suffer from this bias and as soon as i saw this post, i thought of sharing this with you...by the way, i do not mean to hijack this thread with my ranting but as you really share things(actually pour your heart out), i felt obliged to write this down.

Happy and successful trading !!

 

[healthraj]

Raj,

I have been a silent reader of your thread and i enjoy your analysis on OI.

I couldn't help resist this post and ignore if you think its out of place.

When you took those puts(5400PE) with a SL, i thought it is a strict stoploss and in the past, i don't remember you justifying your positions based on flags,pennants, triangles and so forth. But, it was really strange from you to confirm your bias by bringing in all type of geometrical figures.

In psychology, this is called 'Confirmation bias' - tendency to look for , favor and be overly persuaded by info that confirms with our initial impressions .. on the other hand, we tend to ignore and dismiss information which tends to 'disprove' our initial impressions...so, in this case, it seems that you were looking for outside confirmations that were confirming to your initial bias.

We all suffer from this bias and as soon as i saw this post, i thought of sharing this with you...by the way, i do not mean to hijack this thread with my ranting but as you really share things(actually pour your heart out), i felt obliged to write this down.

Happy and successful trading !!

I completely agree with you. Yes that is one of the problem that I have to overcome. I should have quit my positions with a Stoploss. But I wanted to try a positional call. Yes, Since I am holding 5400 PE and I am finding reasons to hold on to my call.

 

[Option.Trader]

I completely agree with you. Yes that is one of the problem that I have to overcome. I should have quit my positions with a Stoploss. But I wanted to try a positional call. Yes, Since I am holding 5400 PE and I am finding reasons to hold on to my call.

Nifty is taking yesterday's close as resistance, adventurous people can go short with 5417 as stop loss on futures

 

[healthraj]

I am carrying my 5400 PE for tomorrow. No specific reason to carry. Just my ego and my aggression. Let us see tomorrow .

There is only one Technical Reason that the MAX OI is at 5300-5700.
And the normal thumb rule that normally in NIFTY any trend will minimum make 500 points.

Psychologically the whole day I was fighting with myself keep my positions and it would not be good if I now close now with a Loss. So let me hold my positions.

In fact Yesterday also the same thing happened. I was holding my 5400 PE bought at 87 and this morning I closed at 140. So may be it is the same trade. But today I have reduced my positions to half of yesterday. so net net I will not be at a Loss

This is not for others to Follow. I am just putting whatever is in my heart

 

[Option.Trader]

I am carrying my 5400 PE for tomorrow. No specific reason to carry. Just my ego and my aggression. Let us see tomorrow .

There is only one Technical Reason that the MAX OI is at 5300-5700
And the normal thumb rule that normally in NIFTY any trend will minimum make 500 points.

Psychologically the whole day I was fighting with myself keep my positions and it would not be good if I now close now with a Loss. So let me hold my positions.

In fact Yesterday also the same thing happened. I was holding my 5400 PE bought at 87 and this morning I closed at 140. So may be it is the same trade. But today I have reduced my positions to half of yesterday. so net net I will not be at a Loss

This is not for others to Follow. I am just putting whatever is in my heart

I followed the stop loss, so came out at 85, but couldn't resist entering again @72, lets see, even Stevens at this stage

 

[sanjeev258380]

Raj bro..
plz post ur ce n pe shorting calls also...
tht is much safer.