Bigbear2022

Bank Nifty Options 13 Mar 2020

Long
NSE:BANKNIFTY   NIFTY BANK
As discussed yesterday Bank Nifty opened below 26000 breaking support on opening tick so there was no hope of any recovery during the day. Only trades possible in such kind of violent market are bull straddles which are going up in no time. It's not the beauty of straddles but high VIX which is making 12-15% trade into 50-100% within hours.

Note : A piece of advice to traders that if such high volatility is there , either buy straddles or try very cheap option because high premium can go 50% down in 5 seconds.

24596 proved resistance in last hour and bank nifty did closed around 500 pts up in last 30 min due to excess offers as I updated at 11:30 AM

Decision range
24101-24392
Resistance for the day
24974
Support for the day
23280

Expectation
Initial range , sharp rally into close
My trade
I'll try to short puts near support
Real time updates
Will update whenever I get time

Note on global equities : This 1987 style crash where dow went 23% in a single session is sending shock waves among world traders. Traders are advised to either stay in with lowest possible risk or just stay out.

These kind of big falls trigger margin calls not only for retail but hedge funds are also finding it difficult to hedge, so protect your capital and windfall gains in any trade will be taken back by market in next trade , so stick to your strategy for medium and long term and protect your capital and don't go all in rambo style.




Views are purely educational in nature. You are solely responsible for any decisions you take on basis of my research.

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