New trading strategy for rest of the week

After RBI policy Bank NIFTY might not do well for some time. It is already in overbought region.
Traders are aligning trades hoping GST would get through the Loksabha and NIFTY would cross 8200. If that does not happen Bank NIFTY would go down to 16000 again.

We book profit in NIFTY PUT sell contract and entered DishTV bear spread.

New trade:
Buy SBI 245 PUT @ around Rs. 5/-
Buy BN 18100 CALL @ around 130-140
So total outgo will be around 14000-15000/-

To recover this sell TATAMOTORS 430 CALL.

In short
Buy SBI 245 PUT @ around Rs. 5/-
Buy BankNifty 18100 CALL @ around 130-140
Sell TATAMOTORS 430 CALL around 10/-

Wait before you enter in to trades during early morning hours. Maybe market would open gap up and prices are not at all in the trading range. Around 8025 is very crucial resistance for NIFTY. It is about 50% of last fall till 7714-7715. So NIFTY might show urgency to concur 8025. Ideally one should enter trades near to 8025 for better returns and low risk.

Also with this trade and other earlier active trades remember Rs. 30000/- SL.
If anytime we come across this magic number, we will stop trading for the month!

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