UNITED STATES OF BANKNIFTY

[Top_Massage]

OK folks .... All eyes on RBI event today. It should trigger movement in Banknifty for at least two to three sessions. This big movement may be one sided or big zig zag. But try to just take intraday trades only. Carrying forward anything is not wise these days.

Choose wisely ... Be VERY VERY careful while buying Banknifty options. Repeating again .... Don't just take a trade forcefully. Wait till the very end. Confirm the trend first, then enter into trade.

For example .... For today, don't just buy anything at exact 11:45 AM (RBI policy outcome moment) .... Because option premiums will melt down drastically within first few zig zag moves post announcement. Just wait till the time you feel that premiums have become cheaper. I may just wait till 12:30 PM or even 1:30 PM or may be 2:30 PM today .... (depending on situation)

Remember guys ... It's definitely NOT important to catch every small movement in NIFTY or Banknifty. Being patient and double confirming the trend is the key. Good luck to all .... Choose wisely .... Best of luck guys ....

Disclaimer: This forum is meant for educational purpose ONLY.

 

[Top_Massage]

First trade done ...... No big gains though ..... Trade was heavily biased towards PUTS and along with it, light CALLS were taken as HEDGE .... Once again, we had the crucial levels with us. The spot level of 27500 (+ / - 50 points) proved to be hurdle for bulls.

It was a Rs. 21000 trade .... But still very less money produced .... But even less money is good in this tough market ... Remember, this market is not for weak traders.

Disclaimer: This forum is meant for educational purpose ONLY.

 

[Top_Massage]

We have witnessed some really strong premium erosion in the last hour or so ......

Disclaimer: This forum is meant for educational purpose ONLY.

 

[Top_Massage]

OK guys ... We are now at crucial level once again (27500 approx) .... If not sure, then don't take a trade ... Watch closely and confirm the INTENTION OF MARKET.

Good luck ....

Disclaimer: This forum is meant for educational purpose ONLY.

 

[optionwriter]

First trade done ...... No big gains though ..... Trade was heavily biased towards PUTS and along with it, light CALLS were taken as HEDGE .... Once again, we had the crucial levels with us. The spot level of 27500 (+ / - 50 points) proved to be hurdle for bulls.

It was a Rs. 21000 trade .... But still very less money produced .... But even less money is good in this tough market ... Remember, this market is not for weak traders.

Disclaimer: This forum is meant for educational purpose ONLY.

R U SHORT OR BUY OPTION? of above...

 

[Top_Massage]

R U SHORT OR BUY OPTION? of above...

Hi .... I actually bought them and sold them later. This little thread is basically dedicated to option buyers only. I personally believe that 'option writing' is altogether a different science. Hence, different kind of knowledge is required for that. Thanks .....

Disclaimer: This forum is meant for educational purpose ONLY.

 

[Top_Massage]

OK folks ... Hope you made good money ... Will meet again tomorrow .... thanks ....

Disclaimer: This forum is meant for educational purpose ONLY.

 

[anildnr]

Today it is like buying call options till RBI policy out...and then writing after 1pm.as 27500 is major resistance

 

[Top_Massage]

Good morning ... Have a nice trading day

Disclaimer: This forum is meant for educational purpose ONLY.

 

[Top_Massage]

OK guys .... Overall, it was a good week (except Wednesday). Hope you had a good week too .... I took position only once today. I entered around 27250 since it became support level after it was surpassed earlier this week. Earlier, this same level was resistance. But since Banknifty stayed above this level for considerable amount of time, hence, this same level is now minor support. It is to be seen if this is breached on Monday (with force) or not.

Anyway, my target was mainly 27500 (+ / - 50 points). I knew it would be tough for Banknifty to surpass 27500 as it is a BIG BIG RESISTANCE.

Hence, I got out around 27460 approx ..... I knew it would fall again but did not trade that last downside movement. Premium erosion was once again a big concern today. But I was able to handle it.

My position for today was tilted more towards CALLS but I took PUTS as hedge. It produced little money but even little profit is gold in this tough market.

Thanks guys ... We will meet again next week .... Enjoy weekend .... Best wishes .....

Disclaimer: This forum is meant for educational purpose ONLY.