Trade 1:
Entry : BankNifty : 11500 Call@ 157
- Idea : Based on broker call.
- Analysis: if nifty moves up, which I'm long, then BNF will move up too
- Conviction : Low: Due to no clarity on Nifty moving up due to current status
of charts. No clear pivot taken out
- Reason for trading : Never traded in Bank Nifty options. Taking test ride
Learning:-
1. BNF options are more volatile than nifty : Lovely movements: Not sure why I never tried it earlier : Sounds yummy
2. Spread is Rs. 1 + always
Trade 2:
Entry : 6300CE@55 : Target : 68
- Idea based on broker call
- Analysis: Picked it up around 6180 NF. Now if my current holding will go up, so will this position. and will help square off few losses in
current holding
Learning:
- Entered not due to analysis but due to Greed: More money.. and lack of money management: Have money , chalo laga dete hai jab tak my wallet
is not empty
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3.10 pm : Question : What should I do with open trades@hand:
1. Short Sell 6200PE@92 : CP: 101 (-9 pts)
2. Long NF@ 6236 : CP: 6196 (- 40 pts)
3. Long 6300CE@ 55 : CP: 54.45 ( -1 pts)
4. Long BNF 11500@ 157: CP: 127 (-30 pts)
Exiting:
Trade 3: Long 6300CE@55 : Exit Price@
Rest 3: Keeping open
- BNF:- Seperate than Nifty :- Can move up or down : So can hold till expiry
- Short PE: Small upmove from here will give me exit. Plus time decay will help
- NF: Long: Still holding : Stop Loss will be 6080.
Another thing is : Today may be 315 Crossover for Nifty. We had touched EMA 15 yesterday, and today if it crosses over, we are surely in downtrend.
Update:-
- 6180 is 20 Day SMA for Nifty Futures. Good chances of small bounce back from here
- VIX is down post 2.20 pm : Helped in containing losses on Short Puts
Entry : BankNifty : 11500 Call@ 157
- Idea : Based on broker call.
- Analysis: if nifty moves up, which I'm long, then BNF will move up too
- Conviction : Low: Due to no clarity on Nifty moving up due to current status
of charts. No clear pivot taken out
- Reason for trading : Never traded in Bank Nifty options. Taking test ride
Learning:-
1. BNF options are more volatile than nifty : Lovely movements: Not sure why I never tried it earlier : Sounds yummy
2. Spread is Rs. 1 + always
Trade 2:
Entry : 6300CE@55 : Target : 68
- Idea based on broker call
- Analysis: Picked it up around 6180 NF. Now if my current holding will go up, so will this position. and will help square off few losses in
current holding
Learning:
- Entered not due to analysis but due to Greed: More money.. and lack of money management: Have money , chalo laga dete hai jab tak my wallet
is not empty
--------------------------------------------------------------------------------------------------------------------------------------------------
3.10 pm : Question : What should I do with open trades@hand:
1. Short Sell 6200PE@92 : CP: 101 (-9 pts)
2. Long NF@ 6236 : CP: 6196 (- 40 pts)
3. Long 6300CE@ 55 : CP: 54.45 ( -1 pts)
4. Long BNF 11500@ 157: CP: 127 (-30 pts)
Exiting:
Trade 3: Long 6300CE@55 : Exit Price@
Rest 3: Keeping open
- BNF:- Seperate than Nifty :- Can move up or down : So can hold till expiry
- Short PE: Small upmove from here will give me exit. Plus time decay will help
- NF: Long: Still holding : Stop Loss will be 6080.
Another thing is : Today may be 315 Crossover for Nifty. We had touched EMA 15 yesterday, and today if it crosses over, we are surely in downtrend.
Update:-
- 6180 is 20 Day SMA for Nifty Futures. Good chances of small bounce back from here
- VIX is down post 2.20 pm : Helped in containing losses on Short Puts
When ever there is a con-tango (large premium on the positive side between spot and futures) better to write a call than put.
This is evident by heavy loosing of call premium and puts not gaining so effectively call writers made money or put buyers but not straddlers.
Never take broker's call - for brokerage house could have vested interest.
(Your mistake is their money).
-Nifty closed below its 20 Day MA on Friday.
-SGX has closed 35 points below and so one could anticipate a gap down.
Already Nifty Long and why short put ???
US GDP numbers are not good for emerging markets.
US - dollar is strong and in an uptrend in daily meaning bad for banks and index.
In general after a weekend one could expect a gap up/down.
Never take position against the trend on a week end.
Decide upon a system and stick on to that.
TD - Sequential is a set up and not a system.
Pls dont have hope and wishful thinking.
Once a trade is made be pessimistic till markets prove your trade correct.
Wish you all the best.