NIFTY Options Trading by RAJ

[healthraj]

9400 is a major resistance. The MAX Pain is also at 9400. So for today based on movement near 9400, hope somebody can sell near 9400 for target of 8800 or lower.

Just noticed that the MAX Pain has shifted from 9400 to 9500 for BANKNIFTY. Do not know when it changed because I am not tracking it. The reason why BNF is drifting towards 9500. Yesterday it was at 9400

 

[healthraj]

Agreed, the operator just playing with premium today, still, i managed to get excellent trade.

What's your view on BankNifty futr shorting here for tomorrow as 9480 seems to be resistance.

The MAX pain had shifted from 9400 to 9500. Yes it would be a good try to Short around 9500

 

[Option.Trader]

The MAX pain had shifted from 9400 to 9500. Yes it would be a good try to Short around 9500

22l chgoi in 5400 pe, is this sign of base being formed at 5400, just tempting to buy puts @30

 

[healthraj]

5500 Which was indicating Bullish has suddenly become Bearish. Those who want to play the 250 Points reversal from 5250 can try Buying naked puts... I am buying 5300 PE @ 18. Play with minimum quantity for this week end.

Two indicators for this call
- 250 points reversal from 5250, Market almost at 5500.
- Max Pain at 5500.

When the Market was around 5250-5280, I recommended buying 5500CE @ 17, which can be closed now at 45 with 250% Profit.

10L 5400CE and 15L 5500CE Shorted within 30 minutes. Monday 5400 (5370) might be tested once again. If succeed can goto 5300 and 5200 also... 5400 Surely would be tested.

 

[Option.Trader]

5500 Which was indicating Bullish has suddenly become Bearish. Those who want to play the 250 Points reversal from 5250 can try Buying naked puts... I am buying 5300 PE @ 18. Play with minimum quantity for this week end.

Two indicators for this call
- 250 points reversal from 5250, Market almost at 5500.
- Max Pain at 5500.

When the Market was around 5250-5280, I recommended buying 5500CE @ 17, which can be closed now at 45 with 250% Profit.

10L 5400CE and 15L 5500CE Shorted within 30 minutes. Monday 5400 (5370) might be tested once again. If succeed can goto 5300 and 5200 also... 5400 Surely would be tested.

You have got the bull by it's horns, love your positional calls. Have the same feeling about puts. Have taken 5400 pe @39 with the profits made

 

[mayanksin]

5500 Which was indicating Bullish has suddenly become Bearish. Those who want to play the 250 Points reversal from 5250 can try Buying naked puts... I am buying 5300 PE @ 18. Play with minimum quantity for this week end.

Two indicators for this call
- 250 points reversal from 5250, Market almost at 5500.
- Max Pain at 5500.

When the Market was around 5250-5280, I recommended buying 5500CE @ 17, which can be closed now at 45 with 250% Profit.

10L 5400CE and 15L 5500CE Shorted within 30 minutes. Monday 5400 (5370) might be tested once again. If succeed can goto 5300 and 5200 also... 5400 Surely would be tested.

Thanks Raj
I bought 5500 CE at 68 which I sold at 45 .So what do u suggest is the best way to cover my losses .Just a question ( dont know about the rules out here)

 

[manojborle]

Yes. You did not mention anywhere that it is a valid trendline but you also did not mention anywhere that it is a tentative trendline.





On one hand you say an intraweek daily close has confirmed your weekly trendline and on the other hand you are saying you need to wait till the week ends to see if your trendline is broken.

That is silly. Be consistent.

Since you drew a weekly trendline wait for atleast this week to get over before you get one more complete candle on your chart.

As I also said before, there are no indicators or candlesticks confirming your view. You also need to show them to support a view.


What is that supposed to mean?



You are contradicting yourself in the same statement. On one hand you are saying what happened in Oct 2012 was a freak trade and on the other hand you want to consider it as a trendline point. Its ironic.

You asked for others opinion and I gave you mine. I never said your chart was "right" or "wrong". I just gave you my opinion.

Thanks Sir for you pointing out my mistakes...
This is what I had asked for while posting my view and yes I made a mistake of not waiting for this week to finish to update on my chart.

Uploaded with ImageShack.us

Now Can we say the Hammer formed on weekly chart supports the view ?

 

[healthraj]

Thanks Sir for you pointing out my mistakes...
This is what I had asked for while posting my view and yes I made a mistake of not waiting for this week to finish to update on my chart.

Uploaded with ImageShack.us

Now Can we say the Hammer formed on weekly chart supports the view ?

What does the Hammer indicate?

 

[manojborle]

What does the Hammer indicate?

I was saying that It is a trading range on weekly chart, so formation of hammer indicates lower levels were rejected and breakout to downside also failed.
Am I correct ?

 

[DanPickUp]

I was saying that It is a trading range on weekly chart, so formation of hammer indicates lower levels were rejected and breakout to downside also failed.
Am I correct ?

@Manojborle

The chart is nicely shown. Simple and still with a lot of information in it. Even then: Answer to your comment; Maybe. Or do you expect others to give comments by reading tea leaves, as what you ask for is nothing else. TA is good, but there is no 100% sure thing, what ever you expect from the chart.

Take care and enjoy your weekend / DanPickUp