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.