Bigbear2022

Bank Nifty options 30 Jan 2020 Expiry trade

Long
NSE:BANKNIFTY   NIFTY BANK
As discussed Bank Nifty gapped up hit resistance during mid day. It gave signs of a breakout but not confirmed by Nifty , because of which we had to book calls early midday around 31070. Thereafter mkt just hovered between resistance and support unabated. We tried a second trade in mid day where Bank Nifty tried to break into trend mode but our stop got triggered. As soon as bank nifty hit support of 30844 we went long again and managed 1.75x trade in 20 mins. Overall it was a day where nobody could lose money if he/ she didn't trust breakout/breakdown and got out early.

Decision range
30905-30961
Support for the day
30781
Resistance for the day
31029

Expectation
Initial range , sharp upmove in last hour
My trade
I'll try to short puts near support
Real time update
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Telegram handle = bigtrade21
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