Bigbear2022

Bank Nifty Options 22 Jan 2020

Long
NSE:BANKNIFTY   NIFTY BANK
As discussed today was a typical range day with market oscillating between support and decision range. I updated low at my channels to be 31870 odd and day high was around 31170.

I would like to share a funny short story here , my friend Venkat who was present with me at my office is also a legendary chartist and Elliott wave practitioner told me that this range will break to downside yielding 300-400 pts to shorts plus head and shoulder pattern and my trade of 31000 pe was trading around 165. He challenged me to cover this position in profit today. He told me come on big bear can you face the fury of wave 4 triangle leading to wave 5 collapse , to his surprise I closed position at 195 with 31000 pe closing at 183. he said come on how can your algorithm deduce it. I explained him the mathematical logic which was bank nifty remained afloat 80 pts above our support of 30777 therefore remained 80 pts below decision range which is why I updated to everyone , put your stop and go to sleep as it's going to be a range day.

Anyways everything went as expected , good day for everyone

Decision range
30979-31017

Support for the day
30819
Resistance for the day
31140

Expectation
Trend day , 31140 might be tested
My trade
I'll try to sell puts near support

Real time update
Pvt channels will be updated asap , pub channels will be updated whenever I get time



Trade active: short 31000 pe @ 260 .
expecting 31300
expecting 30680 to hold for the day
Trade closed manually: Booked loss
Whatsapp contact +46 700319761 ,telegram @bigbearhammer , public telegram link https://t.me/bigb2022

Comments

Todays telegram update made my day 🤩🤩
+3 Reply
how to join
+1 Reply
@Bigbear2022 I checked the update on twitter when i texted you inafternoon and post that Finally took real money trade to book small profit of 21 points on your advice given earlier to short when bulls try push in bearish day took position around 31071 in Jan-Fut and closed around 31050. Overall good day.

Thanks
+1 Reply