Bank Nifty View - 22 December 2023

Dec 22, 2023

Bank Nifty seems very weak compared to Nifty. Also, today, the sentiment seems bearish. So, going along the trend I'm expecting profit booking and a big fall. I've marked the trendlines and my positions on the chart. My SL is close above 47870-47880

Dec 22, 2023

Note

The trade is risky as it in contrary on a intraday basis

Dec 22, 2023

Trade active

It might take multiple days to achieve the target so I might carry some positions overnight

Dec 22, 2023

Note

Back to green

Dec 22, 2023

Note

Updating SL to 47830

Dec 22, 2023

Note

I did something terrible instead of adding puts I added calls. Good thing I exited within 2-3 min. But had to take ~15% loss.I hope I can recover this

Dec 22, 2023

Trade closed: target reached

Target 1 reached up 15% now. Overall it is more like 40% but yes

Dec 22, 2023

Note

I was expecting T2 to hit on Tuesday, however, due to theta I would have gotten less. But I've closed 90% of my trades now. Done for the day. Keeping a single lot of BNF

Dec 22, 2023

Note

Two hundred points up move in BNF in the last 5 min candle. I hope everyone has closed their positions. I still am carry forwarding single lot of BNF deep ITM puts.

Dec 22, 2023

Trade closed: target reached