NIFTY Options Trading by RAJ

[healthraj]

RAJ still holding sbin calls??what would be good levels to book?

As per Options 1800 is the Resistance. But you can book at least 50% today. With only 2 days left for the Expiry, it might be very choppy.

 

[healthraj]

Bought SBIN 1 lot 1800CE @ 2.45 and 1 lot 1750CE @ 6.5 - Bought purely out of Speculation and since SBIN MAX Pain is at 1650 and hope that It would bounce back at 1650

Closed 1750CE @ 15

 

[Option.Trader]

OT,

I did not mean to make some aggressive statements and Trade without a Stoploss. We have to believe in some system. So as per the OAT system, the MAX Pain was at 6100 and so it should act as the Support. With the same OAT system only I am also saying that 6300 would be the Top. Otherwise how would you initiate a Trade?. In fact in this Series I have been actually one sided and always looking at the 6300. I failed to close the Long positions when the market was at 6250. That is another problem.

when the market was at 5700 also I did not go Long. So in summary what I am saying is that we should have one system and go with the system and Trade using the system.

At least the system has worked for Stocks. Today the Banking Stocks like YESBANK, SBIN (which I monitored) came to MAX Pain and Reversed.

I agree it's good to have a view, but how do you keep an effective stop loss ? With 6100 support, market did go to 6079 levels, so if you take 6100(38), 6200(11) the low made would have taken out the stop loses. I had 1000 lot of 6200 @ 19, 6100 @ 60, but just could not effectively manage stop loses. The only trade which did work was short 6100 Nov pe taken at 118, I could hold without breaking a sweat but smaller quantity

 

[Gandhar.]

RAJ just a note that the india VIX has dropped below 20 today until now lets see how it closes today

 

[BabaMagic]

Evening All,

Today's Strategy Outcome:-
After inserting the values in the breakout calculator at 9:45 AM, the following levels appeared.
Today's 30 min. High = 6111.65
Today's 30 min. Low = 6087.65
Upside breakout = 6121.20, Target = 6141.10(6121.20 +*0.325%)
Lower breakdown = 6078, Target = 6058.20(6078 -*0.325%)
Level Sustained(Upside breakout) = 6121.20(11:19 AM to 11:29 AM).
Target Achieved = 6141.10(11:29 AM - in the 10th minute itself)

Considering a profit ratio of 0.70% from the breakout level i.e 6121.2+0.7% = 6164 level was achieved at 12:37 PM.

Key takeaway from today's Nifty Spot movement:-
Lower breakdown was at 6078 & Nifty made a low of 6079.20 at 10:58 AM(Just 2 minutes before the RBI policy announcement).

If a smart trader would have spotted this, He would have bought Nifty future/CE's around 6185 levels with a SL at 6175 & a target of 6141.10(nifty spot).

My OTD Summary for today: Did not get the opportunity to buy nifty futures since my target of 6141.10 was achieved in the 10th minute itself(What a miss it turned out to be) :annoyed:

Cheers!

 

[bapu4]

Evening All,

Today's Strategy Outcome:-
After inserting the values in the breakout calculator at 9:45 AM, the following levels appeared.
Today's 30 min. High = 6111.65
Today's 30 min. Low = 6087.65
Upside breakout = 6121.20, Target = 6141.10(6121.20 +*0.325%)
Lower breakdown = 6078, Target = 6058.20(6078 -*0.325%)
Level Sustained(Upside breakout) = 6121.20(11:19 AM to 11:29 AM).
Target Achieved = 6141.10(11:29 AM - in the 10th minute itself)

Considering a profit ratio of 0.70% from the breakout level i.e 6121.2+0.7% = 6164 level was achieved at 12:37 PM.

Key takeaway from today's Nifty Spot movement:-
Lower breakdown was at 6078 & Nifty made a low of 6079.20 at 10:58 AM(Just 2 minutes before the RBI policy announcement).

If a smart trader would have spotted this, He would have bought Nifty future/CE's around 6185 levels with a SL at 6175 & a target of 6141.10(nifty spot).

My OTD Summary for today: Did not get the opportunity to buy nifty futures since my target of 6141.10 was achieved in the 10th minute itself(What a miss it turned out to be) :annoyed:

Cheers!

Dear Baba Magic,
Neverthless, u got out at 6141, what i feel that u will come out with a clear idea whether to continue to stay in the trade,so that, u can enjoy the 'juice' to the fullest extent . In the secondlast para i think there is a typographical mistake
" If a smart trader would have spotted this, He would have bought Nifty future/CE's around 6185 levels with a SL at 6175 & a target of 6141.10(nifty spot)." I think u wanted to say 6241 !

God bless u !
Rgds !!

 

[BabaMagic]

Evening there,

Thanks for correcting me....the levels I wanted to convey was to buy around 6085 & SL at 6075(not 6185 & 6175) for a target of 6141.10(Nifty Spot)

Appreciate your post.

Nite Nite!

 

[akhill]

Raj,

I have been doing options trading for long time, but with only my analysis on futures. I always did only naked calls and puts sort of trading. did not follow any option trading strategies. I don't even know what is MAX PAIN.. to be honest :lol::lol::lol: Is there any thread of yours, where you started the strategies step by step ?? I cant find any in this thread's first page. or do you have any materials that are good about option trading strategies, learning terminology like option greeks nd all those ??? share it if you can buddy.. thank you.

 

[bksujal]

whats the nifty max pain anyone?

 

[healthraj]

MAX OI at 6000-6300.
MAX Pain at 6100.

MAX COI at 6200-6300. So the fight between 6200 and 6300 is LIVE, Which is right now slightly Favoring Bulls. But I don't think 6300 would be crossed today

BANKNIFTY MAX Pain is now at 10800. Yesterday it was at 10700. With the OI at 10000-11000. But if 10800 need to be the MAX Pain then BANKNIFTY can goto 11600