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51454.55 is the level , If Bank Nifty 30 min candle closes above this level then go long in BNF for at least 400 to 500 points upside. Avoid the view if market opens huge gap down like below 51250. You can short puts and keep 50 % of premium received as SL . E.g. if you short PE 250 then SL would be 250 + 125 = 375. Additionally you can buy futures or little ITM CE like 51300 CE.
Note
I have shorted 51400 PE, 4 sept @ 210 yesterday, currently trading at 180-190, .Also bought call (small quantity( 51500 CE 4 sept @ 168 but it is trading @ 138. Lets see what happens . Markets at still and choppy keep quantity low, SL on put side is 315.Note
What is happening in market is algo systems trading with huge quantities to hunt SLs. Big banks like goldman sachs. Wells Fargo, DE Shaw , JP Morgan etc . All these have pro traders and Mathematical models to judge the moves and control the movements to some extent. However they also face risks, but their models are efficient to enter and exit in the markets. It is called Hot Money. Similar move came just few minutes back , markets went down . Luckily our SL was not hit , High made was 298 but SL is at 315 , Currently trading at 176. So always keep quantities in control.Note
Wow Puts premiums went way down . 125 low was made call is also trading at 155-160.Note
I have booked calls @ 230 just now will keep puts for tomorrow.Trade closed manually
Premiun is getting squeezed on 51400 PE side 4 sept . Hence it can be zero or can shoot up very high. Since I shorted at 210 . It is currently trading at 30-35. I will book all lots now and will only keep 4 Lots with trailing SL at 90. Note
I was of opinion that markets will go up by 500 points from 51454 level but it went only 300 points up. Nevertheless we made some good gains yesterday and mild gains today. See we shorted puts and bought only half quantity calls , because BNf is choppy and gets still for 4-5 hours since a month. Note
It went to zero , No problem finally booking remaining 4 lots at 0.5
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