Today no use for charts. I know it’s bullish day but option premium is costly. So hedged future with options.
Usually I use 5 minutes candlestick to check price action and trade
Without seeing charts you know it’s bullish how come bro.
Whenever there is expectations, market moves higher or lower. This time expectations for exit poll results on Sunday.
Even if exit poll results are disappointing, we can expect big move on Wednesday.
Even though i expected upmove, bought put after seeing my position in red. All positions are bought at wrong time. If i had bought all at the same time, profits would be more.
I confirmed the upmove after seeing our markets in green but global indices are in red. After that i have shorted 29200 pe which made me profitable today.
I think it’s going to be very tricky for you to make money. Premium will go down in both the options and until nifty makes a 800 point move up till this expiry, you would be in loss. I have it does.
Yes true , but my idea is to square off, one of the option on Monday , depends upon the market direction on Monday , another option is to hold till expiry , I already written off the total option value ( Rs 12750). Its OK for me, even if i can exit at breakeven or 50 % of the loss. My analysis is that market will be highly volatile and move on both the directions , On Friday Nifty future was trading at a discount to the Nifty spot price later it moved to premium , it seems that last hour move on Nifty was more of a short covering by some traders , and i think the market direction is uncertain, I assume more chances of market may go back to its ,recent lower level.
It will be a big upside or downside on monday with vix drop if exit polls predict a clear mandate .
Not ruling out 3/4% move if bjp gets a clear majority.
I still feel long straddle/strangle people will make some money
i think since it bounced from a strong support and being overbought and confusion with the results, nifty could be range bounded.
Aj kis kis ne loota ???
i think these are long strangles
even i had plans todo positional long strangle for 1 or 2 two days ( waiting from yesterday ) but premiums didnt come to my level …
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