OPTION TRADE

Option trade is a very skillful game where you should make entry sharply at right price and perfect reversal of index level.
Yesterday I knew 10890 was the reversal and 11000 ce buy price fixed at 50-52. Low made 46.60 & touched 100. I gave exit at 78.80.
Was that not enough?
Unless you use my level and wait for right price your trade won't be profitable.
Try applying the levels snd extrapolate price.

If you find it difficult try reaching me on email Narayanansrirangam@gmail.com
Remember. Nowadays market gives. Minimum one doubling chance in a week.

11000 PE - What it indicates?

See the chart to believe. It has reached the rock bottom there by giving a signal  that PE has lost its steam!

Don't sit  on  PE and scream. Get rid of Shorting and PE if  you are a smart trader!

The chart  has given direction for index before FM announced bank  merger. 

So Chart leads.......  news follows....

SEPTEMBER MONTH TREND

Last two  months have been very bad for  Indian market  where as the world markets did not get in to such a deep correction.

In all probability this month could prove to be much better looking  at the  chart.  But the market  breadth is weak.

If you want to make  money in market, you should listen to chart and price action rather than news and tweets.

I will post  levels  for September on Tuesday.

Follow my levels and be a smart trader!

BANKS MERGER

10 PSU Banks are merged into 4 big  banks.

 PNB Oriental Bank United Bank

Canara Bank and Syndicate bank

Union Bank Andhra Bank and Corporation bank

Indian bank and Allahabad Bank

Government trying to create big next generation banks.

Special  agencies to monitor loans above 250  cr

These are ambitious steps.  How the market is going to react? Though it  is a positive and bold step we have to wait and see how market reacts on Tuesday. Enough time for the market  to think and react.

NIFTY TREND

Range for Tuesday 3/9/19

                .             

Nifty               
Support  10900/825         
Resistance 11045/99

Bank  Nifty      support  27200/26990           Resistance.  27625/750

Note down these levels and start your  trade with discipline  if you are a intra day trader.

On Tuesday I will  leave a note here on intra day trade of strike  prices.  Exact price,  SL  and Tr for  subscribers.

Good Luck!

NIFTY TREND

AS INDICATED NIFTY CLOSED ABOVE 11000.30.  THOSE WHO ARE LONG CAN EXIT AROUND 11145. 

NIFTY IS IN BUY.  BN IS YET TO CATCH UP.

GOOD LUCK.

MY CONGRATS TO SHANKAR, PIYUSH SHAH, CHAKRABORTY  FOR  THEIR TRADE IN 11000 CE WHICH GAVE  FABULOUS PROFIT.

TRADE

Congrats to  those who took 11000 ce near 52 and exited at 78.  This CE was bought as per the level  of nifty downside mentioned in  the blog  today.  Happy trading

Nifty is in buy only if it closes above  11000.30.  Or else  no.

INTRA DAY TRDE

The level where Long has been advised is  perfect. Just hold  with strict SL of  5% For  expample if anyone bought 11000 Ce  around 52-53  should hold with a SL 50.

TREND

Nifty likely to test  109900/890 today.There one can go long.
Bank  Nifty likely to reach 27100. 

When it reaches low level buy 11000 Ce or 27300CE, with SL 5%. of price. Hold and exit with 30-40% on buy price.

Good luck.

INTR DAY TRDE

Those interested in intra day trade  may visit  the blog  during market hours. 

NIFTY TREND

Nifty August expiry closed at 10948, below 11k thereby keeping the major trend of weakness intact.
But the bullish bias is mainteined as it has bounced from a meaningful bottom of 10637.
Last two months have been horrible where we saw nifty opening gap down at 100+ points which have been unheard of. We have tided over the turbulance.
Looking forward to September month with optimism after such a prolonged bearish trend is justified only if the following conditions are satisfied:
1. Nifty must close above 200 DMA on a daily basis (11208).
2. A strong close over previous week close. (11118).
3. VIX - Volatility index should go below 14%.
Till then no long positions.
Good Luck!

Nifty trend

Nifty range 10950-11028.
Bank nifty 27800-28440.

At dips one can buy CE for good gains. Focus on month end CE 11300-400 for less investment and good returns. 

Option strategy

Buy 11000 CE around 68 SL 51 TR 150.

NIFTY TREND

Nifty closed at 10948 after hitting a low of 10813 in the  opening  session. The move was steady and encouraging.  Nifty has stiff  resistance around 11080. A close above is good for  a move up  to 11230.  Bank Nifty if able to close above 28400 can reach 28800. It all depends on a weekly close above 11080 and 28400 on Friday.  Note these numbers and take  position on CEs. There are possibilities of gap  up opening on Monday. 

I will recommend strike  prices for nifty as well  as bank nifty  on Friday.  Market is waiting for a reversal based on RBI   meet outcome.