Quite an eventful day today spoiled by the last 30mts surprise. Honestly how many traders were expecting a rally of 340pts between 15.00 to 15.30 — i was not. In fact i was expecting a fall towards the 39400 levels. Lets analyze the trades on the 5mts chart today. Open was inline at 39611 and we tested…
March series is coming to a close tomorrow, but the options premium is already dead. Only few strikes near the money has some more premiums to shed, all the other OTMs are well below the average rates to what we usually see on the penultimate day of expiry. It also translates into very little movement…
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…
Banknifty showed some strength today, mostly signs of a pause after a breakdown over the last sessions. We opened at 39061 pretty much inline with yesterday’s close and quickly started falling to the support zone of 38690. The price action was perfectly aligned with how we traded yesterday, see the highlighted section in cyan color….
Nifty bank has not fallen enough, we have not even scratched the surface yet. The pace at which global banks are going insolvent — the real fear has not hit India yet ! Traders, investors & public are just cool here, look at the India VIX — we are still at 16.29% compared with US VIX of 27.2% ~ it…
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…
Bears would have been happy today seeing the supports getting broken, i am quite sure the level of shorts in CE options taken to capitalize on the fall we had today. 46500 CE was traded for 1,45,47,750 volume ~ 1.45 crore. This is the farthest away strike in the weekly series. I would say its…
Interesting moves by bank nifty today, the closing statement from my yesterday’s report said. I personally would like to wait for the range to be broken decisively before changing my bearish bias. Got lucky with the analysis yesterday as banknifty was consistently proving me wrong in this calendar month so far. But i am sure…
