Banknifty held out to a perfect trend continuation from yesterday. If we notice closely the pull backs were not strong enough to break the momentum. I sincerely thought we will have a reversal or a bearish day today and had taken PE debit spreads to capitalize. If we analyze today’s pattern closely bank nifty took…
We had a perfect trend continuation day today, see the purple line — the trades were in the same degree of slope as on the previous working day. Banknifty opened at 40695 today and then slowly started climbing. We were in a small range of 40550 to 40690 between open and 12.05 — this was mainly because of the…
There are few important aspects to the price action today. We stuck to a small range today — it would have been good for intraday straddlers & short iron-fly, iron-condor strategy deployers. So we opened inline at 39484, many would argue that it was a gap up. But i wouldnt say that because of the price action…
Interesting price action today, not only did bank nifty end 0.96% down — it broke the crucial support of 39742 today. You might be already aware that i was expecting a bearish week, the 39500/39400 4:5 debit spread of mine was sitting at a loss right from monday. Today’s gap down opening at 39836 gave me some…
Today was a different day for me personally, i almost lost focus at around 10.30am & i posted the same in banknifty minds. “$BANKNIFTY i have no clue on the direction — options data/flow is confusing today” I normally use options flow/data to guess the direction of bank nifty rather than the direct candle stick or chart…
I really cant say that the volatility is that high, if we follow the slope of the moving average — India VIX is still staying low. Not quite a representation of the things happening in global markets. Today i saw VIX trading near 17% higher than last close — but that did not really translate into lot of fear…
The trades till 14.20 was kind of predictable, but the last 1 hour was really special. Bank nifty got wings ! The open was gap up at 39442 and then we started dropping gradually. At around 10.00 i posted “$BANKNIFTY PE premiums are unusually high ! either traders expecting huge downside today or maybe its good time…
If you just saw the open & close price of bank nifty, you would have missed the real drama of the day. A perfect day for the straddlers — but i am 100% confident none of the traders would have held onto their position till close to realize the full profits. Must admit there was no trend…
Simply unexplainable moves by bank nifty from 13.50 today. From the traders fraternity i saw few group of traders planning for long trades — they got immensely rewarded. For some reason i was keeping by bearish bias & hence ended the day quite unsatisfactorily. Overnight we had a dip in SPX -1.53%, DJI -1.72%, NDQ -1.22% — seriously i…
Once again the perfect day for the straddlers, open & close almost at the same level ! But for every other trader, it was a tough day to plan. Gap up opening & hitting the resistance by 09.45. The 30mts of move would have changed everyone bias to the long side. That was 1% ~ 429pts…
