Bigbear2022

Bank Nifty Options 16 Jan 2020

Short
NSE:BANKNIFTY   NIFTY BANK
As discussed Bank Nifty opened below decision range and quickly broke the support turning into a trend day. Day low was made around 31670 , extension support was around 31662.
Since many of you don't receive my updates in real time so I updated my idea at 31675 to cover shorts for the day, which I think some of you might have seen. Anyways good day for call writers.

Decision range
31823-31838
Support for the day
31666
Resistance for the day
32001

Expectation
Trend day , 31666 might be tested
My trade
I'll try to short calls at resistance

Trade active: Shorted 31900 ce @ 127. Bank Nifty equivalent 31985
Trade closed: target reached: Bank Nifty hits decision range , call @ 51 now , lets see how it goes from here
Whatsapp contact +46 700319761 ,telegram @bigbearhammer , public telegram link https://t.me/bigb2022

Comments

support for the day getting tested , hope everyone had a wonderful day
Reply
prasadkanchan13 Bigbear2022
@Bigbear2022, US China trade deal has not impacted much it seems, will the downtrend continue further tomorrow?
Reply
Bigbear2022 prasadkanchan13
@prasadkanchan13, well, there was enough range for the day, for eg 40 rs put went upto 230 so getting 100-130 rs was not difficult as i mentioned resistance level yesterday only, so we leave all these news to tv and youtube clowns, hope you had a good day , bye for now
Reply
prasadkanchan13 Bigbear2022
@Bigbear2022, yes absolutely it was wonderful day under your guidance.
Reply
hello sir

i want to ask that you are shorting calls on the basis of future or spot price ????

and sorry for poor English
Reply
Bigbear2022 67b9f914cd454a718b21a8154b7541
@67b9f914cd454a718b21a8154b7541, all prices are spot as per trading view quotes
Reply
Hello sir,
Thank you for your daily updates in bank nifty.
I just wanted to ask if the US-China trade deal signing that is going to happen today i.e. 15 Jan would affect the bank nifty on 16 Jan and lead to an bullish trend...
Just a thought which I wanted to clarify with an expert.
Thank you for your efforts.
Reply
Bigbear2022 f60a094f532a43af868f41117f4dcd
@f60a094f532a43af868f41117f4dcd, well , I am not an economist or right person to answer that , however , I'll try selling at resistance levels as posted above. I think these things are too complicated to comprehend for a day trader like me. I know about these things but I only trust my system else i'll be biased while trading which will give me losses. Today I updated that I have covered shorts at 31677 and done for the day.
Reply
@Bigbear2022, ok. Thank you sir.
Reply
We saw a uptrend at the end and considering the open interest just curious if this might touch 32000
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