Shorted at breakdown of 17800

Nifty short on the breakdown of the trend line at 18000. Take puts against it fir April. Implied volatility of only 11 percent for April means a 300 point spread for a 1000 point downside.
Keep stop om retractement to above 18000

Trade attivo:

NIFTY could go to next logical level of 16800 if it breaks 17300 decisively. If short - stay short but dont add to shorts at this level as a rapid bounce back from 17200 levels cannot be denied

Trade attivo:

Take off 50% at these levels and wait for 16800. If the market bounces back sharply then close off position

Commento:

Can take off this position fully - 17300 will be level to watch. Flat for now

Trade chiuso: obiettivo raggiunto:

That was a good trade. Now for possible bounce back to 17300-400 levels