Nifty Key levels for day traders

[linkon7]

are you suggesting that trading below 5110 will result in more downside.

lot of SL at 5090, I think the market manpulators will force the SL to be hit and will bounce back from 5080 levels.

similarly lot of SL at 5145 to 5150. for shorts,

Plenty of SL and operators will try to trigger them, but Nifty is too big for one operator to manipulate. It basically ends with operators fighting with themselves and we get killed in their fight. pigs get slaughtered when bulls and bears fight...

A good clue is to track the OI of options. Like 5100 put added 18% OI yesterday. That means now the belief is 5100 will act as the next support level.

 

[scplindia]

5100 will act as support for expiry. But I have seen that most writer exit when they sense that the nifty is going to breach the support, I have burnt my finger based on this study of concentration of puts and calls acting as support. They exit at such fast speed, we are left with worthless options which expiry worht nothing.

Tomorrows IIP may be the trend decider, and if that is the case, the put call concentration will change in less than 1/2 hour.

 

[scplindia]

Also please note that the volumes for the last few days has been very low, and in this circumstance a small basket order will tilt the balance heavily.

 

[trader.trends]

Almost surreal level of range contraction. One hour later we are in a range of 16 pts on NF. No opening gaps for the past few days either.

 

[linkon7]

5100 will act as support for expiry. But I have seen that most writer exit when they sense that the nifty is going to breach the support, I have burnt my finger based on this study of concentration of puts and calls acting as support. They exit at such fast speed, we are left with worthless options which expiry worht nothing.

Tomorrows IIP may be the trend decider, and if that is the case, the put call concentration will change in less than 1/2 hour.

We trade the charts and OI data is used to formulate options strategies. I'm short on 4900 put april from 83 levels. With OI building in 5100 and 5000 put, i'm safe and can target 55-58 on this... Last few days we didnt see much movement in the index, but options did move south...

Also please note that the volumes for the last few days has been very low, and in this circumstance a small basket order will tilt the balance heavily.

The volumes for the last few days are :
987,202.24
976,196.71
970,580.51
823,461.24
696,543.83
901,926.51

Thats very much average good volumes. I think the problem is in one segment booking profit and another building long positions

 

[Pralhad]

A good clue is to track the OI of options. Like 5100 put added 18% OI yesterday. That means now the belief is 5100 will act as the next support level.

I have started the thread to track the Nifty Option OI on EOD basis. Please visit the thread and contribute on it to improve.

Here is link http://www.traderji.com/options/38931-tracking-nifty-pc-oi-w-r-t-option-writer.html

Regards,

-Pralhad

 

[linkon7]

Almost surreal level of range contraction. One hour later we are in a range of 16 pts on NF. No opening gaps for the past few days either.

Its like watching my kid sleep... she moves a bit, but the movement is comparable to nifty.

I have started watching lion king series with my kid.... its more exciting than tracking a 15 point range...I suggest u do the same... if u dont have a kid... borrow one of your neighbors...

 

[trader.trends]

Its like watching my kid sleep... she moves a bit, but the movement is comparable to nifty.

I have started watching lion king series with my kid.... its more exciting than tracking a 15 point range...I suggest u do the same... if u dont have a kid... borrow one of your neighbors...

From trying to comprehend Matrix to Lion King. That's what narrow ranges do to people.

Hakuna Matata! It means no worries for the rest of your days. If NF moves in such narrow ranges, Hakuna Matata! indeed!!

 

[linkon7]

From trying to comprehend Matrix to Lion King. That's what narrow ranges do to people.

Hakuna Matata! It means no worries for the rest of your days. If NF moves in such narrow ranges, Hakuna Matata! indeed!!

definitely better than waiting endlessly for SL or tgt to hit...:lol:
Get up early morning only to be bored to sleep again....

nr7... followed by nr8... followed by nr9...

sebi should seriously shift time back to 9.55 or even later....

 

[trader.trends]

definitely better than waiting endlessly for SL or tgt to hit...:lol:
Get up early morning only to be bored to sleep again....

nr7... followed by nr8... followed by nr9...

sebi should seriously shift time back to 9.55 or even later....

It is best to have the trade timings from 1800hr to 2200hrs. Shorter time will mean more activity. The efficiency of the mkt will shoot. Many people can concentrate in their day jobs enhancing efficiency even there. We will react to US mkt on the fly instead of waiting over night. The volumes will also go up as many more traders will jump in to lose money.