Trade Log NIFTY May 19

My trades today:

1. Due to positive global cues, I expected positive day today. Hence I sold 8700 PUT in first 15 minutes, with stop below yesterday's close.
2. When opening range was sustained and downward trend line break happened I sold 8900 PUT.
3. Around 11, NIFTY was already 2.43% up and started showing signs of momentum loss, that is candles with long tails. Hence existed both the positions at profit.
4. Then when opening range high of the day was broken decisively on second attempt, intra-day trend turned. Hence I sold 9200 CALL, which I later covered around bottom of the opening range.

Review of price action today:

I observe

1. Following global cues, NIFTY opened gap up, but could not sustain gap.
2. BANK NIFTY closed negative, while NIFTY closed positive.
3. INDIA VIX fell 3.5%
4. NIFTY Advance Decline was 36:14, which broader market Advance Decline was not good 781 to 980.
5. Inside candle formed after large bearish candle yesterday.

My view for next tomorrow and Thursday

1. Global news not helping, NIFTY is showing strength, but BANK NIFTY bearish. On BANK NIFTY chart, 17150 - 16700 is a support zone. This will be second touch of the zone, hence it can build support here. That means 8800 can be touched again, or even breached.
2. I don't expect NIFTY to go below 8600.
3. Also, I don't think 8800 is a bottom, on next touch, it may not hold, at least breached once.