Day Trading Stocks & Futures

[Shiv12345]

Today's trading plan was easy. It is now clear that Banknifty is trapped within limited range of 24000 to 24250 approx. As soon as Bank nifty reached 24235 spot level, I bought BN 23600 PE (12th Oct) around 10 .... and as expected it reversed from there ... At one point it almost touched 24130 ... Finally, I sold the contract around 13 .... So good profit of 30% .... Enjoy Weekend!!

 

[Shiv12345]

Today has been supremely CONFUSING ... Ideally, Banknifty should have blasted upwards after crossing 24250 (convincingly) ... but still no movement!! Even though there was no big premium erosion among CALLS ... Indeed very confusing ... Maybe tomorrow shall decide whether it can break the range of 24000 to 24250 convincingly ... Elliot Wave method is still signalling that NIFTY index is into some sort of impulsive wave ...

 

[Shiv12345]

Bought Banknifty 24400 CE (12th Oct) at 56 during morning and sold at 65 ... But overall this slow and boring rise in Banknifty index is not helping retailers ... Initially, when BN index breached 24300 level during morning, I thought it would blast upwards but no such ferocious moves ... Today being Tuesday, we are bound to witness heavy premium erosion. After several days, I have witnessed such slow moving impulsive wave. It's doing nothing but making life tougher for retailers. I am still hoping to get good trade in the next couple of hours ... Lets watch SECOND HALF!!! ...

 

[simplebuthard]

Bought Banknifty 24400 CE (12th Oct) at 56 during morning and sold at 65 ... But overall this slow and boring rise in Banknifty index is not helping retailers ... Initially, when BN index breached 24300 level during morning, I thought it would blast upwards but no such ferocious moves ... Today being Tuesday, we are bound to witness heavy premium erosion. After several days, I have witnessed such slow moving impulsive wave. It's doing nothing but making life tougher for retailers. I am still hoping to get good trade in the next couple of hours ... Lets watch SECOND HALF!!! ...

Niftybank break the resistance 24300-30 level and holds for an hour. So bulls are strong. Being in a LONG trade, has been comfortable so far.

 

[Shiv12345]

Niftybank break the resistance 24300-30 level and holds for an hour. So bulls are strong. Being in a LONG trade, has been comfortable so far.

True ... I have started believing that retailers should rather trade in futures only for such range bound days. Atleast, there is no daily tension of premium erosion. But then again, I tend to find FUTURES as something very dangerous (if the trade goes wrong).

 

[simplebuthard]

Shiv, Futures are less riskier than options at all cases.

 

[Shiv12345]

Now focusing on only two contracts for today: BN 24200 PE (12th Oct) & BN 24400 CE (12th Oct) .... only for today's second half ... One of them is expected to fire for a short span of time ... Will look to pounce on that opportunity and scalp .... All eyes on these two now ...

 

[Shiv12345]

One possible probability for today:- With majority of contributors of Banknifty index in green today i.e. (HDFC BANK, KOTAKBANK, SBIN, AXIS) ... Only ICICIBANK is being kept in RED ... I believe it can be made to shoot upwards in the last couple of hours today ... That will provide much required fuel to Banknifty ... This can be the gameplan for today .... lets see ...

 

[Shiv12345]

Well ... ICICIBANK did not turn green ... but still BN 24400 CE proved to be today's HERO for me ... I was somehow able to scalp this same contract one more time post 2 PM ...

 

[Shiv12345]

Last two hours can be exciting for Banknifty ... With majority of premium erosion almost DONE for today .... All eyes are now on BN 24400 PE & CE both ... One of them should fire ...