Another range bound day today with no resistance or support breaks, straddles would have loved it with the premiums dying 17 to 18% without having to do anything. This week on monday, wednesday & friday — i was unable to find any short selling opportunity — now thats a first! Bank nifty opened gap down 41452, but if you…
Looking at the opening 30 minutes i seriously thought today’s price action is really going to be awesome. I was fully loaded with a 41000:40900 debit ratio that would have made a lot of money if bank nifty crossed the 40900 barrier. And for a moment i seriously thought we will have deeper cuts, but…
Today was another day of personal disappointment for me as i could not find a suitable option selling opportunity. Bank nifty opened inline went over the resistance line of 41629 and then fell back to the negative zone. The open to HOD was only a move of 0.73% ~ 304pts. The swing of HOD to…
Unlike yesterday we had some price moves today, a typical V pattern that would have given traders something to cheer about. Otherwise a falling volatility would have sucked out the premiums from the weekly options. Bank nifty open was inline at 41513, traded flat till 10.35 after which we had our first move of the…
A kind of boring price action today, except for the opening 30mts we literally had a cool & relaxing day today. Bank nifty opened inline at 41530 made some up downs for 5 consecutive candles showing indecisiveness & lack of direction. But i was still fearful to deploy short straddle or iron fly thats because…
Bank nifty opened gap up at 41019 much above the resistance level of 40869, the gap would have been because of the excellent hand out from the US markets yesterday. SPX & NDQ had outperformed with good gains. Our gap up did not sustain though, we fell 1.61% from 09.30 to the support zone 40700,…
Apologies for not able to prepare this report earlier in the day as i had some personal commitment. The day was nothing short of exciting though, well not as much drama as yesterday. Even though bank nifty traded in a tighter range today — the options premium were bloated. Knowing very well its an expiry day too — option…
Today’s market price action would not have surprised anyone, thats mainly because we had some breathtaking moves last 2 to 3 days. So today bank nifty was pausing to take some breath. Tomorrow we have the Union Budget — so we can expect some moves after 11 AM when the FM starts her speech. But honestly the…
Again we had a 4 support & resistance zone in play today, the price action formed is also quite tricky. The most commendable part is the conviction of bulls to rally bank nifty in the last 90mts and close it in green. In essence who could have really predicted the close in green, just look…
There were 4 support & resistance zones in play today, 3 supports broken & 1 held. No pull back rally — just a consolation flat type trading last 3hrs today. Lets analyze it one by one. The accusations against Adani group companies by Hindenburg research caught the lime light today, markets reacting more seriously than on 25th…
