hi friends
I have commented on my previous posts which you can see it if u want.I may not be able to reply to each small moves that happen.If u r reading blog u will be knowing levels and how to act.
One small favour i always expect if u feel u r earning some bucks following this blog do take few minutes to send a link to your blog,facebook,ur emailing lists,your yahoo groups as favour to me.
Now as i said middle zone is always danger zone ,nothing is known which side markets will go and so advising something to buy to create sensation is not a good traders act.
options trader has to be cautious during this middle undecided or major support zone.
Now what to do.
Even if we get a small bounce ahead no need to worry.
all our 4600 put buyers who were asked to square off must had squared off and all those call writers who were asked to exit at 10 bucks also must be holding we have not hit 10 bucks yet.
If you are a buyer then u have to no choice to be safe or enter risky trade like entering some call buy i dont recommend it at all.This is for only rich traders who have money in bag.Usually its proved that major support zone attracts bounce but today's bounce had no steam and we eventually gave up.
One small favour i always expect if u feel u r earning some bucks following this blog do take few minutes to send a link to your blog,facebook,ur emailing lists,your yahoo groups as favour to me.
Now as i said middle zone is always danger zone ,nothing is known which side markets will go and so advising something to buy to create sensation is not a good traders act.
options trader has to be cautious during this middle undecided or major support zone.
Now what to do.
Even if we get a small bounce ahead no need to worry.
all our 4600 put buyers who were asked to square off must had squared off and all those call writers who were asked to exit at 10 bucks also must be holding we have not hit 10 bucks yet.
If you are a buyer then u have to no choice to be safe or enter risky trade like entering some call buy i dont recommend it at all.This is for only rich traders who have money in bag.Usually its proved that major support zone attracts bounce but today's bounce had no steam and we eventually gave up.
put call ratio has also reached bottoms or lowest levels.so bearish is still left
Still some fall is left if u want a safe trade write 5300 call December or 5200 call December.
Still nothing yet is resolved.Lets see if we break 5200 on top or 4700 on bottom.So wait and watch.Once direction is decided we enter in full swing.
When nifty does time pass its best to write calls and eat time premiums.
rest remains the same
enjoy bye tc .
Just an observation, Can u post your trading calls seperate from your views. This is my 1st day here and I am completely lost as to how and where those 4600 puts came from.
ReplyDeleteThe break out range you mention today is 4700-5200. What about the 4600 neckline long term IH&S
ReplyDeletesupport. Now you don't think this area can give a good support and end the bearishness.
@nifty :- 4600 was long term neckline support.
ReplyDeleteread my blog for monday trading strategies and u will get all answers.
Atain:- This is the first kiss of the support.lets wait for some more confirmations.
new post soon.
bye