Bank Nifty options 30 Dec 2019 for NSE:BANKNIFTY by Bigbear2022

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As discussed Bank Nifty opened above decision range and stayed above resistance for whole day giving good opportunity to short puts.

Decision Range for the day
32257-32357

Support for the day
32171
Resistance for the day
32553

Expectation
Day High to be made in first hour. Some selling might be seen in last hour

My trade
I'll try to short calls at resistance

Telegram id @bigbearhammer, Whatsapp contact +46 700319761 ,
Public telegram - https://t.me/bigb2022

Follow on Tradetron for algo : https://tradetron.tech/strategy/473943

Comments

Great analysis... shorted 32700 CE @ 110, booked at 60. Thanks for your valuable direction :)

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Bought banknifty 31700 PE on 27th Dec. But the market went up by a huge margin the next day.. 71% erosion in premium i one day
..what strategy should i adopt to make a.gain..

Any help.please.. Thanks

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Manoj74

@Manoj74, Well I am afraid , you might not see your price again in this series. My only advice will be to not chase the trade now , try new trades with flexibility. I will not even advice my enemies to buy and hold options in Indian Market. Just trade levels on daily basis , don't be greedy , you'll be fine

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Bigbear2022

@Bigbear2022, Thanks;) i knew there wasn't a way out.. however Thanks for your inputs. Am certainly loking for a newer trade today..

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