Sorry for the late update guys..dont have anything more to say from yesterday or from what I posted comments section yesterday - If you missed it, I would urge you to read it now.
Anyhow I am shorting into these levels here. I dont know if it can clear 5050 but I think until it does so, downside pressure remains. Take it for what its worth. You know my bias. 4925 upward till 5050 are good areas to short gradually.
EDITS:
1. I have to mention..I have closed all my NIFTY PUTS at a loss of around 25%(just quantifying the loss on the option values alone - if you look at my full account, this is just maybe 0.5% loss or less. Its all about money management..which is why I mentioned before its not about being a rockstar or owning the world in a few days..just to make profits consistently - Anyone who is a full time trader or experienced trader will understand what I am talking about here...Atleast I hope so.). Full disclosure - Just mentioning openly. I mentioned my profits so mentioning my losses. I am closing all options today. I do not know. This is going too fast and too strong for now. Still holding my NF shorts and earlier updates still stand. Remember - do not trade beyond what you are comfortable on.
2. Just wanted to be clear here - Reason I closed PUTs is coz of time and time alone. Options always have a clear expiry date. Cannot hold hoping for something - similar to holding some milk close to expiry date lol. What I wanted did not come, so closed..Nothing else. After I closed I have been adding nicely in Futures(OCT) with hedges on 5000 calls. Coz I am still bearish.
Best,
Lee
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2 comments:
where do you see this rally going to...i have shorted oct NF at 4980..is there any SL i need to manage with..i am also bearish..
Lee... You know what!? The most funny thing is that EVERYONE at this point of time is bearish... I mean such a situation(not technically, but sentimentally) is ripe for a rally.... lol... :)
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