NIFTY Agreed put are are going crazy if I stay in it was another 1.2X. Seriously it has nearly wipe off Gain from Jan 1. 😳 My guess is showing this weakness because of Recent RELIANCE 1M sup broken, Plus it has 1W Res. BANKNIFTY
Update - 02 ITM call are near support Break that is interesting to see at Today’s close. This is my view—02 exp calls are getting cheaper, just need to break that put level like I said earlier. Let’s see how this plays out. A little action in the last part of the hours to set things up for tomorrow’s move. Only RELIANCE scare me 😟 1M support breaking.
Why is RELIANCE taking a tumble? If it closes below 1250 this month, brace yourself – 1080 might just come knocking like a surprise guest at the party!
Thinking about jumping back into P1240 at 26—it’s the resistance for now. I’ll put in 1.6L with a 50-50 stop-loss. Let’s see how it rolls. Worst case? My tail risk will be 60K gain with 20K from my pocket, so 80K total. Game on!
Just cashed out of Reliance P1240 with a 60% return! Could it go up another 45%? Maybe. But it was getting chaotic, so I took my profit. First win, in my stock options setup is officially slaying!