Nifty opened above our previously discussed level and technically made a double top after taking support from that exact level of 17642. The down move that came since 1 pm was massive and was not exactly unprecedented. Max Pain level was 17600 and given the weakness in Reliance we had the anticipation that expiry would be around that level. What we did not expect is the crash below 17500. The only reason behind such a fall and especially the last 100 points is due to unwinding of long positions in cash. Most people had mad long positions in cash in the index heavy weights in view of the current bull run. So, is the bull run over? It would be too early to comment. We have taken support at 20 DEMA and we need to see next few trading sessions if we can hold it.
Conviction bearish
Bias neutral
Trade Setup
Long above 17522 Target 17613
Short below 17500 Target 17428-17385
>>Option buying
Long Position: Buy 17600 CE
Short position: Buy 17400 PE
>>Option Selling
Sell 17800 CE with SL of 20 points (best entry at or above 17600)
-------------------------------------------
Standard Disclaimer
Trading stocks, options and other securities involves risk.
The risk of loss in trading securities can be substantial.
The risk involved with trading stocks, options and other securities are not suitable for all investors.
The information presented in this educational material is not intended to be
used as the sole basis of any investment decisions, nor should it be construed
as advice designed to meet the investment needs of any particular investor.
Nothing in this course constitutes legal, accounting or tax advice, or
individually tailored investment advice.
WE ARE NOT RESPONSIBLE FOR ANY GAINS OR LOSSES YOU MAKE.
WE ARE NOT SEBI REGISTERED.
*SEBI Mandatory Guidelines*
*Channel Disclaimer/ disclosure*
No tips
No advice
No recommendation
No PMS advisory
This channel do not provide any tips/recommendations/advice
All updates/posts/discussions are only for education and learning purpose.
Do Consult your financial advisor before taking trading or investing decisions
I am not responsible for any financial losses
Disclaimer/disclosure/terms and conditions applicable to all members of this channel
All rights are reserved
Conviction bearish
Bias neutral
Trade Setup
Long above 17522 Target 17613
Short below 17500 Target 17428-17385
>>Option buying
Long Position: Buy 17600 CE
Short position: Buy 17400 PE
>>Option Selling
Sell 17800 CE with SL of 20 points (best entry at or above 17600)
-------------------------------------------
Standard Disclaimer
Trading stocks, options and other securities involves risk.
The risk of loss in trading securities can be substantial.
The risk involved with trading stocks, options and other securities are not suitable for all investors.
The information presented in this educational material is not intended to be
used as the sole basis of any investment decisions, nor should it be construed
as advice designed to meet the investment needs of any particular investor.
Nothing in this course constitutes legal, accounting or tax advice, or
individually tailored investment advice.
WE ARE NOT RESPONSIBLE FOR ANY GAINS OR LOSSES YOU MAKE.
WE ARE NOT SEBI REGISTERED.
*SEBI Mandatory Guidelines*
*Channel Disclaimer/ disclosure*
No tips
No advice
No recommendation
No PMS advisory
This channel do not provide any tips/recommendations/advice
All updates/posts/discussions are only for education and learning purpose.
Do Consult your financial advisor before taking trading or investing decisions
I am not responsible for any financial losses
Disclaimer/disclosure/terms and conditions applicable to all members of this channel
All rights are reserved
