Observe_Think_Act_Think

Observe_Think_Act_Think

Nifty initially tried to fill the gap. This attempt was failed. Then the momentum was reversed on the downside. The 8900 Call was sold at 145 Rs for risk of 2000 Rs. The call was later covered during the day.

Observe_Think_Act_Think Updated 

The gap was partially filled, so there was buying initially, I wanted to play complete gap fill, but observed that there is no momentum in upward breakouts, hence exited the trade.

Observe_Think_Act_Think

Before Market opens 1. US Markets were up 6% 2. All Asian markets up 3. First Large Gap up above resistance and previous high. This was a chance trade with high risk. Because if this gap holds during the day, then it becomes turning point for the market as it eats up many shorts aggressively. Closed the trade with loss as the gap did not hold.

Observe_Think_Act_Think Updated 

DOW is range bound but bullish. Asian Markets are mildly negative. Mostly expectation is to have consolidation day. Action : Wait to see how NIFTY is ranging in the first 30 minutes to 1 hr. SGX Nifty is mildly down. When NIFTY broke above 8500 in first 30 Mins, then sold PUT @69 and then covered it before FM's conference.

Observe_Think_Act_Think Updated 

GAIL Chart looks good for upside in the short term. Fundamental reason is forming a hammer on daily and weekly candlestick charts and holding up well in the falling market.

Observe_Think_Act_Think Updated 

Date : March 25, 2020 8:00 AM Monthly : Bearish. Highly bearish candle. For any trend reversal or consolidation to happen, NIFTY should close above 8990 first and then 9500. Weekly : Bearish. Formation of 7th Lower Low is being formed in the current week. Weekly momentum has not shown any signs of slowing down. Any Higher high candle will be a first bounce and...

Observe_Think_Act_Think Updated 

Date : March 24, 2020 8:30 AM Asian markets up and SGX nifty up. There is no major news, so this could be a more technical pullback. Action : If it gaps up, sell 1 lot and cover on the gap fill. And then the idea would be to again buy gap fill and wait for profitable exit. If there is no gap, then wait for the index to establish the range. Look for any good...

Observe_Think_Act_Think Updated 

Nifty was showing an uptrend for the day and as planned, out of money PUT option was sold and closed on the rise. This was done because, in case of sudden fall, loss is minimised to delta*fall.