Sold some 6000 calls for September expiry at around Rs. 19/-
Last month Jupiter was overseeing Mercury and market took North direction. This could be one of the reasons interalia other favorable factors. Also as per my observations (and one can confirm looking at past data) whenever there are five Saturdays in a month all markets would normally go up.
Now Mercury is changing position on Monday and Jupiter will not oversee Mercury anymore. This would have impact on financial markets.
In addition many technical indicators have reached overbought conditions and started showing negative divergence.
Combination of all these factors, I think there could be possibility of some correction very soon.
My present trades are as below:
Buy PUT 5600 in the range of Rs. 55/- and 60/- ( This is showing some losses as 5600 PUT is being traded around Rs. 45.
I will sell PUT 5400 @ Rs. 25 and 30 and shall be in market in October month with bear spread strategy with NIFTY.
Premium paid so far is covered by selling equal amount of 6000 CALLS as mentioned earlier in this post.
Disclaimer: This blog does not take any responsibility of your profit and loss. Kindly do your own research while you trade.
Last month Jupiter was overseeing Mercury and market took North direction. This could be one of the reasons interalia other favorable factors. Also as per my observations (and one can confirm looking at past data) whenever there are five Saturdays in a month all markets would normally go up.
Now Mercury is changing position on Monday and Jupiter will not oversee Mercury anymore. This would have impact on financial markets.
In addition many technical indicators have reached overbought conditions and started showing negative divergence.
Combination of all these factors, I think there could be possibility of some correction very soon.
My present trades are as below:
Buy PUT 5600 in the range of Rs. 55/- and 60/- ( This is showing some losses as 5600 PUT is being traded around Rs. 45.
I will sell PUT 5400 @ Rs. 25 and 30 and shall be in market in October month with bear spread strategy with NIFTY.
Premium paid so far is covered by selling equal amount of 6000 CALLS as mentioned earlier in this post.
Disclaimer: This blog does not take any responsibility of your profit and loss. Kindly do your own research while you trade.
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