My Trades and Notes
- Thread starter karthik_sri
- Start date
1st trade of today in NIFTY Option ended in RED! My mistake!
Strategy: Last two days High/Low break
Mistake: Took the decision basis NIFTY-I futures chart instead Spot and entered in buying Call option after seeing Hammer at bottom.
Lesson: When spot NIFTY has closed below Support and when raising with Hammer from support region, should have waited for a candle to close above the short candle. When applied SL on the low of hammer order got rejected
couldn't able to try further attempt on applying SL as urgent work came and saw market going down and closed my position at market price. To trade Options basis SPOT NIFTY only!
Strategy: Last two days High/Low break
Mistake: Took the decision basis NIFTY-I futures chart instead Spot and entered in buying Call option after seeing Hammer at bottom.
Lesson: When spot NIFTY has closed below Support and when raising with Hammer from support region, should have waited for a candle to close above the short candle. When applied SL on the low of hammer order got rejected
couldn't able to try further attempt on applying SL as urgent work came and saw market going down and closed my position at market price. To trade Options basis SPOT NIFTY only!
Today chart of NIFTY Spot with Option analysis for reference...
NIFTY spot open candle was Inverted hammer...nice buy put of the opening candle with a stop loss of low of the candle...if traded would have rewarded good! The Spot was well below 200MA and on 22nd Apr NIFTY Spot price touched 200MA multiple times and couldnt able to move above 200MA as 200MA was holding as strong resistance!
Blue mark are enter and Red are SL (Visual trade not real trade for study purpose)
NIFTY spot open candle was Inverted hammer...nice buy put of the opening candle with a stop loss of low of the candle...if traded would have rewarded good! The Spot was well below 200MA and on 22nd Apr NIFTY Spot price touched 200MA multiple times and couldnt able to move above 200MA as 200MA was holding as strong resistance!
Blue mark are enter and Red are SL (Visual trade not real trade for study purpose)
NIFTY Spot on Daily & Weekly (just my analysis)!
On daily chart NIFTY is in the zone of 200MA struggling to move away and yday closed below 200MA. If moves down can retest 20MA
On Weekly chart NIFTY is above 200MA and above 20MA but looks like a shooting star pattern in Weekly may come down and retest 20MA level.
On daily chart NIFTY is in the zone of 200MA struggling to move away and yday closed below 200MA. If moves down can retest 20MA
On Weekly chart NIFTY is above 200MA and above 20MA but looks like a shooting star pattern in Weekly may come down and retest 20MA level.
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