Nifty Bank IndexLong
Bank Nifty Options 31 Jan 2020
As discussed Bank Nifty broke support for the day in opening tick and just made failed attempts to reach there till close but it proved to be strong resistance for whole day and market found support only near extended support of 30535. However upmove in last hour was pending before it took 30600 PE to 0 as we had anticipated on opening support near 30655. Market closed around those levels only without much fuss.
We took a long call of 30900 near our support of 30685 which held for quite a while before breaking down. 30600 PE short call went to 0 as updated on social media platforms. Overall mixed day with nothing much. We ended breakeven today as there was no money in options on long side as by eod 30700 PE also went to single digit by 3 pm.
Decision Range
30672-30717
Support for the day
30474
Resistance for the day
30864
Expectation
Trend day - 30864 might be tested
My trade
I'll try to short puts on supports
Real time updates
I'll post on public channels whenever I get time
We took a long call of 30900 near our support of 30685 which held for quite a while before breaking down. 30600 PE short call went to 0 as updated on social media platforms. Overall mixed day with nothing much. We ended breakeven today as there was no money in options on long side as by eod 30700 PE also went to single digit by 3 pm.
Decision Range
30672-30717
Support for the day
30474
Resistance for the day
30864
Expectation
Trend day - 30864 might be tested
My trade
I'll try to short puts on supports
Real time updates
I'll post on public channels whenever I get time
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