iCharts Discussions

[reachchirag]

Is it fresh short or the long what you had sold.

[ca.krishna]

Amit Ji,

Congrats to you for Yellow Belt. Cheers..........


Krishna Aggarwal

[amitagg]

[amitagg]

ITC holding above 317 well....likely up

[amitagg]

closing above 6182 would be bad for bears... close shorts...markets would give opportunity to short again ....

better to short seeing fall....since we rose and maintained above 6130 resistance entire day.....

lets not guess unless trading options...market action suggests bullishness...

holding only ITC longs....SSLT gave nice profits today since 179-180....DLF squared at cost [after Bharti booked at Rs 1 loss].....

[amitagg]

Hi square off was to protect gap up opening if any.....markets above island reversal gap area of 6125-6142.....above Sep 30s push high of 6142....along one of the weeking closing high of 6187......

opening and next 30 mins would tell story....if open 30 points up, not a short for positional.... can rise to 6260-6300 very shortly....

if opens down 20-25 points, short.......with tight stop

6220 can be touched...before sideways to bullish intra day move..in case up opening...

just to plan entry for either long or short....better to long stocks rather than Nifty....

[amitagg]

so NF was strong as mentioned on Friday.....one should buy above 6130.....
so with sudden dip if it happens till 6180, i would not sell below that...
any short should cover at 6180....and buy around 6130-6160

markets can edge up and reliance / ITC are preparing for this move......to 6260-6280-6300.....then anything can happen

[amitagg]

just noticing that all threads [or most] are bearish [this expression i understand has different connotations based on time frame... or both bulls and bears profit as per their time frame]

i concidence...- Vinay, Rita, Nakum, Chandru, Smart......etc...right!

if this indeed happens, Ichartians would be real experts [at one more instance] and a success if not already.....

good luck all!!

Pls expecting when u all shall change your view so that my DLF leveraged and hedge longs succeed....

[ PS: I dont trade Nifty most of the time though somehwat expected 6280 NF & possible spot again]

[amitagg]

[amitagg]

exited DLF at 157.5.....

sold 6400 call at 76 and 6000 put at 66...... breakeven 6470-5940......[would buy 6300 call at 6000 and 6000 put at 6400 if wild swings]

[amitagg]

RK posting in this thread that I second youtr trade....i was thinking similar to that.... a day back

i today though sold 6400 call at 76...[against your 118]
and sold 6000 put at 66

i am overall bullish for new few months and hence your Jan ITM call is "right idea"

lets track in an excel as ST does and see how your trade goes....

good one for me as of now

[amitagg]

RK why i resisted a diagonal now [though it is directionally bullish] was that

i would be in profit in 5860-6540....see the range...and i can buy sell futures with strict stop losses seeing market action if market tests those....

also then i can buy OTM call if market around 5900 since i would expect 6300 above in Jan ....

so the long call i which to time differently than yours....thats the difference in my selling OTM call put

also i Vinday said, Vix etc may crash or fall leading to fall in premiums ....

lets see.....i would enter a long trade as yours like Jan call once my short call gives profit....if vice versa happens lets see.......

somehow i felt that "selling OTM options" was risk-free/less strategy at this moment....since i can "expect" manage this later beyond 5900/6500 ... otherwise after some volatitlity when market stablises in next 4 days....i would profit...also i can profit during this week also when i shall exit......

[rk_a2003]

Thanks Amit,

It's a trade to have hands on experience .I just started with 1 lot.

The max loss is around 10000/- in unforeseen circumstances like gap down at lower ckt etc....for which I was prepared.

How ever I am not of the opinion that it will happen even the state election results are adverse. That's why I entered otherwise I would rather avoid trading at the time of big events.

Let's see how it goes.

[amitagg]

lets see the results weekly

[rk_a2003]

The profit on diagonal spread as per closing rates of Terminal is 1425/-.NF is nearly 80 points up from my entry price.