UNITED STATES OF BANKNIFTY

[Top_Massage]

No change in overall status. We are OFFICIALLY stuck between 31000 and 31500 (+ / - 50 points) and hopefully, we will break it soon in order to get meaningful trade. It's been like this since quite long now. I know it's tough being an option buyer these days but we have to accept that we can't get an opportunity on daily basis. Same goes for option writers too, their trading life isn't easy as well.

Today also, I kept on waiting whole day but I knew today was going to be an empty day. But that's how trader's life is. We have to keep waiting for the right opportunity. If one waits for one day, you wait for two. If they wait for two days, you wait for three. Until an easy and clear opportunity is available.

Let's see what happens tomorrow. Bye



Disclaimer: This forum is meant for educational purposes only.

 

[Top_Massage]

Finally, took a trade after a long long wait since yesterday. I am just trying to take advantage of this monotonous range of 31000 to 31500 amidst pendulum kind of movement Though very little money produced.

Disclaimer: This forum is meant for educational purposes only.

 

[jyotixxx]

How many lots do you trade in one move?

 

[Top_Massage]

How many lots do you trade in one move?

Hi, I measure my trades on the basis of amount spent. I normally spend anywhere between 15000 to 40000 per trade (depending on the risk). I usually prefer ATM or ITM options. Hence, lots may differ from trade to trade. Thanks

Disclaimer: This forum is meant for educational purposes only.

 

[Top_Massage]

Though it's very difficult to gauge the trend and next move for today but I am just focusing on only one level as of now i.e. yesterday's low of 31248 approx .... If bulls could surpass this level with force, then may be they could do 31450 or 31500 again ...

But if bears could stay below this level for long enough, then perhaps they will try for lower end of this monotonous range i.e. 31000 approx ....

Meanwhile, volumes are really going lower and lower since yesterday even when we are approaching very near to budget ... I wonder what that means for today .... I have also heard a lot about something called as "Pre-Budget rally" ... does it really exist? As of now, there's no sign of it. There are only two more days to go before budget ...

Disclaimer: This forum is meant for educational purposes only.

 

[Raj232]

Top_Massage Bro.. look @ VIX showing fake rates in Z's KITE:

 

[Top_Massage]

Top_Massage Bro.. look @ VIX showing fake rates in Z's KITE:
View attachment 35856

True, hopefully they will resolve this issue soon.

Disclaimer: This forum is meant for educational purposes only.

 

[Top_Massage]

Still no decisive move from banknifty ... kept on sitting as a mere spectator ... let's see what happens tomorrow ... bye

Disclaimer: This forum is meant for educational purposes only.

 

[Top_Massage]

Sorry but still no development. Indices are showing no intent whatsoever. It's as if markets are just waiting for budget to be announced. Let's see how long do we have to wait ... this week has been full of sitting and waiting

Disclaimer: This forum is meant for educational purposes only.

 

[Top_Massage]

Big News: Economic Survey 2019 is out now. Let's see if market reacts.

We are standing at a crucial make or break level of 31500 (+ / - 50 points).

Disclaimer: This forum is meant for educational purposes only.