Nifty has formed RSI Bearish Divergence and tries to break trend-line. It looks weak below 8700 (Attached chart)
Nifty has formed RSI bearish divergence in Daily chart.
MACD negative cross over had happened and RSI is coming down.
Nifty is trying to seek support around 8716 (Trend line and
If it breaks here in closing basis, the next level of support is
Attached the chart explaining the same.
TAMO bearishness changed the momentum of AUTO sectors.
Sun pharma fall encourages pharma sector bearishness.
There was not much short other than AUTO sector.
Short covering happened only in Reliance.
Banknifty is not weak compared to Nifty.
All index heavy weight stocks INFY, TCS, Reliance, ITC, HDFC
Bank and HDFC are bullish.
Manage your sold out PE by selling CE, Better not short. Market
may bounce back at any time.
Aggressive short positions have been added to all AUTO sectors and
It is only profit booking as per FNO data and it is nail biting
Nifty is going to test patience with buyers.
ICICI Bank and HDFC Bank are almost flat in USA.
There was no threat to Banknifty as such.
Danger zone to Banknifty is at 19700 only. Till that time, it is
Yes Bank has formed RSI bearish divergence, but no short
position is created.
Only profit booking happened in yes Bank, good to sell CE.
Big Brother HDFC Bank is trading in all time high value and long
PSU Banks are shaking Banknifty, but nothing to get worried.
Short positions had been added to midcap PSU Banks right now.
Nothing to get worried for the time being.
Manager your sold PE by selling 21500 CE
Banknifty is not trying to break trend-line.
Banknifty will show its natural strength volatility in expiry.
RSI is coming down.
Sold out additional 19500 PE and 21000 CE
Booked profit in 18500 PE and 21200 CE.
Booked profit in 9050 CE.
Started expiry trading from yesterday.
Sold out 20500 CE for tomorrow expiry.
Bought 1 lot 20000 PE and sold out 5 lots of 19900 PE and 10
lots of 19800 PE.
Will buy March 8700 PE if market comes down again below 8700.
Will sell March 9300 CE and 9200 CE if comes down.
Wil sell more PEs if market goes up.
Will move to next month slowly.
Right now I am suffering from Expiry feverJ
Having only 10% free cash now J.
Open Positions(24) Historical Download
Jegathesan Durairaj, a mathematician by qualification, an Ex-software professional and now a full time Risk Defined Option Writer. With his Open Book Strategies, he is the most known identity in twitter as itjegan, with huge followers. He had won Zerodha 60 Day Challenge – 10 Times round-the-clock. He is one of the prime Option Writing Trainer and tutored close to 1000 members till now.
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