Caution: Expiry of May contract on 31st May could cause high volatility
Shorted Nifty futurres first thing in the morning
Trade closed manually:
Closed for about 40 points gain... not sure of how the market will behave today so just quick in and out today... perhaps one of the entries will result in some significant profits
What is for tomorrow? Tomorrow I am travelling from Bangalore to Pune in early morning flight. Will not get any chance to trade. Today market was kind to me to sell nifty calls of strike 10700for May series @30 that was trading @3rs in the morning. But unfortunately as I was appearing in court couldn't get chance to sell my put. Just wanted to learn your analysis for June series on nifty and Bank nifty. All in all there is a profit of Rs 26 in today's trading for my holding positions. As usual lost money in Maruti, IOC or ITC call options. DISCLAIMER:I have both put and call options for June series. And I wish to earn from both of my positions. What is your view? I am searching for a suitable trading range of Bank nifty for June series.
@Pranabkolkatay, I'll post weekly levels for Nifty and Bank Nifty either late tonight or tomorrow. These should be valid till around first week April. Went long on Maruti June. The Stochastics and MFI are showing oversold conditions. Lets see what happens. Anyway I have a very tight SL... not more than about 3000 per lot.
@Pranabkolkatay, You are most welcome... I have posted a Nifty Daily level chart just now. That is usually valid for 2-3 sessions. But I shall also work on a chart taking weekly levels into account - which is usually valid for 5-10 sessions. Anyway tomorrow's levels are posted so check it out.