My attempt to extrapolate how @Mitesh_Engr bhai traded on 02-May-22.
Everything is based on assumptions, but hopefully together we can learn something.
29-Apr-22: 36088 (#BANKNIFTY Closing)
Support / Resistance: 35500 / 36600
02-May-22: Expected gap down around support
Everything is based on assumptions, but hopefully together we can learn something.
29-Apr-22: 36088 (#BANKNIFTY Closing)
Support / Resistance: 35500 / 36600
02-May-22: Expected gap down around support
9:16 am: He probably entered 36700 ce at 110.
9:27 am: Created a strangle of 34500 pe & 36900 ce. Exited 36700 ce at minor loss. (BN around 35900 levels).
🟠 Notice both in terms of qty & premium he has more in ce compared to pe. Different way to think about directional trade.
9:27 am: Created a strangle of 34500 pe & 36900 ce. Exited 36700 ce at minor loss. (BN around 35900 levels).
🟠 Notice both in terms of qty & premium he has more in ce compared to pe. Different way to think about directional trade.
12:25 pm: BN @ 36k. He shifted 34500 pe to 35000 pe. Booked 15 points in pe position.
12:28 pm: He added 100 qty more in pe.
12:28 pm: He added 100 qty more in pe.
1:30 pm: No changes. His position was in profit of 37k (0.5%). This is his 75L small 🤏 account.
2:53 pm: Shifted 35000 pe to 35300 pe. Booked profit of 21 points in pe position.
3:05 pm: He decides to carry 1200 quantity on both side.
3:17 pm: Premiums suppresses in last. He books another 50%, exits hedges as well.
3:30 pm: His final mtm (1%). Could be even more on Wednesday when market opens.
3:30 pm: His final mtm (1%). Could be even more on Wednesday when market opens.
Continuation of @Mitesh_Engr bhai trade.
Carried forward strangle of 35300 PE & 36900 CE strangle on 04-May-22
Carried forward strangle of 35300 PE & 36900 CE strangle on 04-May-22
9:16 am:
1⃣ Added Qty=600 of 35500 PE at 47.59 & 35900 CE at 52 (making 35900 average price of 66.1)
Basically overnight he didn't want to risk much due to holiday, so added quantity first thing in the morning.
1⃣ Added Qty=600 of 35500 PE at 47.59 & 35900 CE at 52 (making 35900 average price of 66.1)
Basically overnight he didn't want to risk much due to holiday, so added quantity first thing in the morning.
Few comments by Mitesh bhai:
🟡 Not adding extra qty since 1% is already achieved
🟡 Preplanned to exit if profit declines to 30k
🟡 Strangle sold with S/R in mind
🟡 Not adding extra qty since 1% is already achieved
🟡 Preplanned to exit if profit declines to 30k
🟡 Strangle sold with S/R in mind
9:40 am:
BANKNIFTY: 36180
1⃣ Booked profit of ₹35728 in 35300 PE
2⃣ Shifted 35300 PE to 35500 PE
BANKNIFTY: 36180
1⃣ Booked profit of ₹35728 in 35300 PE
2⃣ Shifted 35300 PE to 35500 PE
10:13 am:
BANKNIFTY: 36125
1⃣ Booked half quantity profit in 35900 CE
2⃣ Added in 35700 CE at 71.43
BANKNIFTY: 36125
1⃣ Booked half quantity profit in 35900 CE
2⃣ Added in 35700 CE at 71.43
10:29 am:
BANKNIFTY: 36060
1⃣ Booked remaining half quantity profit in 35900 CE (Profit: ₹33228)
2⃣ Added in 35700 CE. Average price: 67.33
Current Position:
Strangle of 35500 PE & 35700 CE
Comment:
🟡 No decay on CE side since VIX was increasing
🟡 Place SL of 90 on PE side
BANKNIFTY: 36060
1⃣ Booked remaining half quantity profit in 35900 CE (Profit: ₹33228)
2⃣ Added in 35700 CE. Average price: 67.33
Current Position:
Strangle of 35500 PE & 35700 CE
Comment:
🟡 No decay on CE side since VIX was increasing
🟡 Place SL of 90 on PE side
12:00 pm: Exited with additional profit of 22k for the day.
Additionally once he learned RBI governor speech at 2pm, he would take new positions after 2pm as well.
Additionally once he learned RBI governor speech at 2pm, he would take new positions after 2pm as well.
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