Trades till expiration this month.

Budget week!
Lot of expectations about Budget are built in already in NIFTY price. Traders are cautious. FIIs are buyers. NIFTY rallied and covered 350-400 points and now consolidating during last three trading sessions. For NIFTY, 8800 should act as a good psychological support.
Averages are catching up. RSI (14 D) is near 40-45 and approaching oversold region. Hope rally could be at his best in its last stride and post budget NIFTY could cross 9300 at least once. And looking at chart and OI table, immediate range till expiration could be 8800 (+50)  to 9000 (+50)

Based on this assumptions:
Sell 4 lots of NIFTY 9000 PUT of February expiration in the range of 150-200.

Reliance:
Due to adverse news about steeling information, Reliance could struggle for some more time. It has immediate support of 830.

Buy 860 PUT between 6-7.

ICICIBANK
Stock is not doing well. In general banking and especially private banks did not participate in brief rally last week. Maybe they will do so this week.
ICICIBANK has strong support around 320 and resistance around 360. It should try to touch both levels in next four trading sessions.

Maximum OI in 330 PUT and which is being traded at 5.50, this could mean stock many not go too much below 324-325. That would be the time to enter in to 330 CALL buy contract.
As per rough calculation 330 CALL should be available around 3.25-4.00, if stocks goes near 325 in cash segment on Monday

Buy 330 ICICI BANK CALL of February expiration around 3.25-4.00.

In short, trades should be as follows:
1) Sell four lots of 9000 NIFTY PUT around 150-200
2) Buy Reliance 860 PUT around 6-7
3) Buy ICICIBANK 330 CALL between 3.25-4.50.

Hold these trades till expiration of this month.

Disclaimer: This blog does not take any responsibility of your profit/loss

ICICIBANK: Buy 340 CALL around Rs. 10/-

Unusual high quantity of PUTs were added in 340 contracts since morning.

See chart, it is being traded around bottom of the channel and there could be bounce back

One can buy 340 CALL around 10/-

Disclaimer: This blog does not take any responsibility of your profit/loss

Sell NIFTY 8600 PUT around 100-120

Selling 8500 PUT around 130-140 proved to be a good strategy. One can exit from it, if not booked profit earlier. NIFTY obliged EW theory.

Today there is lot of addition at 8600 PUTs and 8800 CALLs. This range seems to be sealed for the time-being, unless there is any news which could take NIFTY on either side.

 Sell NIFTY 8600 PUT around 100-120 and stay with the majority of smart trader for the day.

Disclaimer: This blog does not take any responsibility of your profit/loss.

Sell NIFTY 8500 PUT 4 lots around 140-150 and buy PUT of JP and CALL of AXISBANK

Update:
Book profit in RPOWER 75 CALL sell contract
Book profit in TATAMOTORS 630 CALL contract.
Book profit in INFY 2100 PUT sell contract
and hold other contracts for next week.

This is an eventful month so all trades should be done very carefully. All earlier stocks moved exactly in opposite directions than anticipated. But still long way to go, there could be possibility of recovery.

Delhi pre-election results indicating AAP could come in power with majority. As an investor especially FIIs, will not appreciate this and further downside could be expected.

In perception of FIIs,

1. this could mean there is still a major section in Indian voters who believes in freebies, socialistic Congress mindset and in future Congress-AAP alliance could become challenge to BJP's crony capitalism Governance. 
2. wherever possible (common man) voters are choosing substitutes to BJP. This is what shown in by-poll elections in North India. Perhaps there were no non-congress options in Maharashtra and J & K, but there also it was not safe-sailing for BJP. 
3. this is anti-BJP, anti-progress agenda of majority of candle procession Indians who are not driven by self styled opinion leaders on social networking sites.     

These all could be perceptions as mentioned, but perception is reality in many cases.

I am not an expert in politics but a mere option trader.
I will be keen to know where support exists.

NIFTY is very close to support levels.
RSI is near 30. As per EW theory, NIFTY, should not go down below 8445, to continue up-move.

If NIFTY goes near 8440, then 8500 PUT would be traded around 140-150. As per OI there is support around 8500 and since 8500 PUT is traded around 60 and hence support near 8440 (ie 8500-60) seems to be very strong.

AXISBANK:

Formed hammer pattern. Will cross 580 soon.

OI suggests that 530 seems to be very strong support.

Strategy:
Sell NIFTY 8500 PUT 4 lots around 140-150.
Buy JPASSIAT 22.5 PUT
Buy AXISBANK 580 CALL.

Disclaimer: This blog does not take any responsibility of your profit/loss.

Buy CAIRN 230 PUT between 5-6

NIFTY experienced profit booking after long time.
Maximum open interest in NIFTY is at 9000 CALL, and it seems NIFTY might  take some time to close above 9000 on EOD basis. NIFTY has strong support near 8500 looking at OI in 8500 PUTs.

From NIFTY EOD chart, it is clear that NIFTY reversed from strong resistance line and this was supported by global cues.

Continue with RPOWER, TATAMOTORS and INFY strategies.

Since we have two positions viz TATAMOTORS and RPOWER assuming NIFTY will continue up-move and except INFY we do not have and bear position, one can think of buying PUTS in CAIRN INDIA.

Buy CAIRN 230 PUT between 5-6.

Disclaimer: This blog does not take responsibility of your profit/loss