Bigbear2022

Bank Nifty Options 9 March 2020

Long
NSE:BANKNIFTY   NIFTY BANK
As discussed live on social media platforms , 27568 was resistance which I told will break near 1 pm based on order flow I saw at 11-11:30 PM. it broke resistance went on to hit 28000 within an hour. We shorted puts and traders made good money.

Note :: Amid this global crisis CBOE VIX has exceeded 50 in NYSE which indicates that an intermediate bottom is round the corner however holding overnight positions are risky in short term because market will try to flush out weak shorts. We have no intention to short till last bottom tick and looking for a reversal next week on upside. 2-3% downside may come any time but next 10% move is on upside I feel.

Decision range
27618-27740
Resistance for the day
28166
Support for the day
27283

Expectation
Initial weakness to be bought , sharp reversal in mid day , might close at day high

My trade
I'll try to short puts near support
Real time updates
I'll post whenever I get time

Whatsapp/Telegram contact +31 647996002
Telegram handle = bigtrade21
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