(2/7) Still waiting for the last leg from 240 to 183—this gauge is still in play. Honestly, I’m bored this nonsense. Catch me when the puts finally flatten out. Like I said, the calls are trying to build support, but if they fail, it’s freefall time. Let’s see how the day unfolds.
NIFTY If the first circle holds, the market could correct until budget. OR The mid-trend line can hold temporarily & test the 2nd circle by tomorrow & initiate the afore mentioned correction!
Today, it will attempt to create support on calls. If unsuccessful, a freefall is likely. There are no minor or major support levels visible on calls, making it an interesting scenario to watch. A week before the Budget, positive news is expected to flood the market, likely testing the 23.5-23.7K range.
This is How I see Discipline Trade 1. Max Cap entry at 140. 2. ₹5L = 47-48 lots at ₹140. 3. Weekly goal = 30 points (20% return). Small? Maybe. Effective? Hell yes. 4. Nail your timing, and lot size = turbocharged returns. 5. Example: Today, from 60 it jumped by 40 points. Weekly target? Done in one trade. 6. Keep this up, and your Sharpe hits 1.5+. You’re playing the big leagues now.
Newbie, start with 1 lot—keep it simple. Last year was slow for me too, so take your time. Focus on where to buy and why—call or put, have your reasons. Research is king, especially on bigger timeframes. Think like a fund manager: if asked why you picked that option contract, have a solid answer. Don’t just buy—justify it.