Nifty 50指数
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Trade Log NIFTY May 11

225
About trades today.

I sold 9300 PUT as there was a gap up opening above 9350. This position is trapped. I squared off the position for loss.
I also squared off my positions from Friday.
I hold 9500 CALL. That position is open.

Trade Log NIFTY May 8


NIFTY Opened gap up above 9350 and sustained there for some time, like 30 minutes. But then it was straight down day. So 9340-9440 is a hard to break resistance zone.

I have the following observations about today's price action

1. NIFTY has opened gap up and closed the gap. This has happened 3rd time in last 5 days.
2. NIFTY showed follow through on the downside after breaking below 9350.
3. VIX fell little less than a percent.
5. Advance Decline ratio 30:20 , on positive side.
5. BANK Nifty fell down 2%, mostly due to ICICI Bank

I read this action as

1. I assume now some momentum is gathered. If NIFTY breaks below 9130, this fall will touch 9000 region.

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