CALL
Trade Log NIFTY June 3In my trade log for June 2,
I had said
1. Tomorrow will be the 6th day of higher highs. NIFTY closed near high of the day and just below strong psychological level 10000.
2. If there are positive global clues, NIFTY can create massive gap and short covering. There is not much overhead resistance till 10383 - 10400.
3. The other thing that I sense is mostly it can do similar thing some consolidation below 10000 and eventually breaking it.
4. Considering BANKNIFTY chart, I am more towards quick break and then continuation of rally on Thursday.
No points in invalidated and I still hold my view. NIFTY is racing towards 10380-10400 Levels. But today, It did not go that far.
My trades today
1. I sold 10100 CALL and squared it for loss. This was going to be difficult trade, but considering overbought context i took it.
2. But the 10200 CALL worked and actually helped to close my day flat.
My observations for today
1. NIFTY closed 0.83% higher and formed small indecision candle with gap up.
2. BANKNIFTY closed 2% higher, but candle was showing the tiredness of this rally.
3. VIX fell -0.24%. So mostly VIX is also needs some breather from action.
4. NSE Advance Decline ratio is 34 to 16.
My view for tomorrow
1. Tomorrow is weekly expiry. Overall there are some tiredness signs visible for the rally, but I still wont short it tomorrow.
2. Tomorrow will be 7th day. I think there is one more push remaining for NIFTY in current swing before consolidation.
3. I'll mostly wait on sideline, and not take much bets in first half of the day.
Trade Log NIFTY June 02In my June 1 update,
I had said
1. As NIFTY approached 9900, VIX rose and there was strong resistance in the zone. I believe this zone will be tested a couple of times in intra day movement before breaking above.
2. There is not much space for long trade until we clear the resistance zone and close above 9930.
3. I think NIFTY will form a consolidation range under 9930 and try breaking out. I need to watch how low it can go to form the lower boundary of the range.
4. 9700 should be a good candidate level lower boundary.
In short, my reading was OK. I anticipated the consolidation to last atleast for couple of days. But NIFTY broke out of 9930, and range is not formed, It took support in 9800 area.
My trades today
1. I squared my 9900 CALL for loss start of the day. This was a big loss.
2. When 2nd touch of resistance was touched, I sold 9900 CALL and covered that quickly for profit one first sign of strength.
3. Then on breakout I sold 9900 PUT and covered it for profit end of the day.
My observations for the day
1. This rally has its 5th positive day. Today NIFTY closed with 1.5% gain.
2. BANK NIFTY outperformed and closed 2.86%. BANK NIFTY closed right at the key level of 20530.
3. INDIA VIX closed 30.12, 2% down
4. Advance Decline ration was ok 36:14, Not as strong as it could be. But BANKNIFTY can drag it along.
My view for tomorrow
1. Tomorrow will be the 6th day of higher highs. NIFTY closed near high of the day and just below strong psychological level 10000.
2. If there are positive global clues, NIFTY can create massive gap and short covering. There is not much overhead resistance till 10383 - 10400.
3. The other thing that I sense is mostly it can do similar thing some consolidation below 10000 and eventually breaking it.
4. Considering BANKNIFTY chart, I am more towards quick break and then continuation of rally on Thursday.
Purchasing QCOM calls in June.May's monthly candle closed above April's high.
If price returns to April's high, then I will begin purchasing call options at the 80.00 strike with a July 2 expiration.
Purchasing PTON calls in June.May's monthly candle closed above April's high.
If price returns to April's high, then I will begin purchasing call options at the 38.00 strike with a July 2 expiration.
Purchasing NVDA calls in June.May's monthly candle closed above April's high.
If price returns to April's high, then I will begin purchasing call options at the 300.00 strike with a July 2 expiration.
Purchasing MSFT calls during June.May's monthly candle closed above April's high.
If price returns to April's high, then I will begin purchasing call options at the 180.00 strike with a July 2 expiration.
Purchasing MRNA calls in June.May's monthly candle closed above April's high.
If price returns to April's high, then I will begin purchasing call options at the 56.00 strike with a July 2 expiration.
Purchasing IWM calls during June.May's monthly candle closed above April's high.
If price returns to April's high, then I will begin purchasing call options at the 136.50 strike with a July 2 expiration.
Purchasing INTC calls during June.May's monthly candle closed above April's high.
If price returns to April's high, then I will begin purchasing call options at the 62.00 strike with a July 2 expiration.
Purchasing GOOG calls during June.May's monthly candle closed above April's high.
If price returns to April's high, then I will begin purchasing call options at the 1355.00 strike with a July 2 expiration.
Purchasing GM calls during June.May's monthly candle closed above April's high.
If price returns to April's high, then I will begin purchasing call options at the 24.50 strike with a July 2 expiration.
Purchasing FB calls during June.May's monthly candle closed above April's high.
If price returns to April's high, then I will begin purchasing call options at the 207.50 strike with a July 2 expiration.
Purchasing EWZ calls during June.May's monthly candle closed above April's high.
If price returns to April's high, then I will begin purchasing call options at the 26.50 strike with a July 2 expiration.
Purchasing EFA calls during June.May's monthly candle closed above April's high.
If price returns to April's high, then I will begin purchasing call options at the 57.50 strike with a July 2 expiration.
Purchasing EEM calls during June.May's monthly candle closed above April's high.
If price returns to April's high, then I will begin purchasing call options at the 37.50 strike with a July 2 expiration.
Purchasing DIS calls during June.May's monthly candle closed above April's high.
If price returns to April's high, then I will begin purchasing call options at the 112 strike with a July 2 expiration.
Purchasing CSCO calls during June.May's monthly candle closed above April's high.
If price returns to April's high, then I will begin purchasing call options at the 43.50 strike with a July 2 expiration.
Purchasing BYND calls during June.May's monthly candle closed above April's high.
If price returns to April's high, then I will begin purchasing call options at the 116 strike with a July 2 expiration.
Purchasing ACB calls during June.May's monthly candle closed above April's high.
If price returns to April's high, then I will begin purchasing call options at the 11 strike with a July 2 expiration.
Purchasing AAPL calls during June.May's monthly candle closed above April's high.
If price returns to April's high, then I will begin purchasing call options at the 292.50 strike with a July 2 expiration.
Buying AMZN call options in May.If price returns to March's high, then I'll be looking to begin purchasing call options as close to the 1996 strike as I can with a June 1 expiration.
