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Niftyoptions

14 Jul '23 Post Mortem on Nifty - green 1hr candles after 10.30If you had witnessed yesterday's 13.15 hourly candle that took out 95pts ~ 0.49%, you would not have guessed Nifty will rebound today. At least I did not expect.  I was having a bullish bias on nifty50 which you can understand from the report yesterday, but the bullish PUT spread carried forward from yesterday had an unfavorable risk reward. I made up the mind to exit this credit spread at a decent level today & re-enter at a favorable ratio. At 15.05 I exited the 19500/19400 PE at 60.9/33.4 for a marginal loss. And after that we had another 87pts rally ~ 0.45%. Not only I exited at a loss on a profit that would have gone immensely profitable had I hung on, I did not get a pull back to re-enter. Today's rally mainly spearheaded by NiftyIT up 4.45% was definitely an event to watch. Nifty opened gap up but was showing a negative bias. We had a fall of 62pts till 10.20 after which it turned around and was grinding up slowly. Banknifty on the other hand was falling continuously and it was evident its not going to support nifty today. But right at 14.45 some magic happened & banknifty turned around sparking a newfound momentum to nifty50 as well. Not only nifty pushed through the 19500 level, but hit a new ATH of 19595 today. ie a total intraday swing of 161pts. Further upside movements will be faced with very little resistances and its the easiest path for Nifty. Well that is what most traders will think and position for. I would personally like to wait out this trend and re-enter when the levels are bit for comfortable for me.
NSE:NIFTYLong
by viswaram
FASP levels for Nifty 12/07/2023The FASP for Nifty is listed for 12-07-2023. You can add this levels to your trade setup for better results. This should not be the only indicator but an additional tool to increase your winning possibilities. What is Fibolysis Anchor SupRes Points(FASP)? It is a unique level arrived by using Fibonacci Retracement , Fibonacci Extension , Standard Pivot levels under various Timeframes. It is an extensively analyzed level to draw the support and resistance levels for the next day. You can use these levels along with your trade setup to increase your winning odds. Validity of the levels: 1 Day How to use these levels? The three levels on both sides are usually easily achievable. The Targets above are bit difficult to achieve in a single trading session. I use this fact to write intraday positions and to buy options. Color Coding: Green is regular support and buying area, Red is strong exit area Disclaimer: This is shared in the interest of educational purpose and for knowledge enhancement. Kindly refer it in the same light. I am not responsible for any profits or loss incurred based on this information.
NSE:NIFTY
by SathishChandrasekaran
07 Jul '23 Post Mortem on Nifty - time for shortsNifty hits an all time high of 19523.6 at 10.00 today, this was after we opened gap down and then had a series of powerful green candles. The surge that took N50 higher was so special that if you looked at 10.00 AM you would never have thought of going short. Opening gap down was due to the handout from the global markets & it was expected. but the 102pts rally to the ATH was unusual. I am quite sure the last of the bears would have exited the marketplace seeing the strength. Now when we look back, it seems like a classic pump and dump scheme! Trades Taken As soon as the N50 broke today's low 10.45, I took a bearish credit spread i.e sell 19500 CE at 62.25 and buy 19600 CE at 32.85. The max profit on this trade is Rs1470, max loss is Rs3530 and Break even = 19529.4. The risk:reward = 2.4. This is taken for the current weekly expiry and since its a credit strategy, the time decay will help it. If the market stays as it is or continues to go down the position will remain profitable. If the market scales back up to 19500 levels quickly, my position will start bleeding & I would have to start running for cover. 1hr TF The indicator gave a sell signal by 12.15 only on the 1hr chart. Since the intraday is viewed at a lower time frame of 15mts & 5mts - the trade was taken early. N50 is currently at the 3rd July close levels wherein there was a top like formation. If we continue to fall from here then the trades between 03 Jul to 07 Jul will look like a blip on a longer time frame. Having said that 19330 will form the first support/resistance zone (although not strong).
NSE:NIFTYShort
by viswaram