Bank Nifty Podcast 22 Aug 2024
Two trades were taken today.
1st trade was on Gap up/down strategy, here the profit was booked early due to thick line which is the OI line 51000, where there was early rejection and strong resistance from the Call Side.
2nd trade was purely based on Podcast levels with Data positive and 4 department of OI being positive, still the Bank Nifty moved in the another direction and stoploss was hit.
Notes:
- Gap up/down Strategy needs to be taken if there's enough space based on ATR lines and OI lines or any thick Lines. Although this isn't mandatory, but good to follow.
- OI change needs to be checked in realtime, and since NIFTY was on opposite direction of the trade, a straddle of both Bank NIFTY and NIFTY would have worked in the favor.
Optional:
- Straddle setup at the ATM strikes when NIFTY OI data is positive and Bank NIFTY data is negative or vice versa on both of the indices.
- Profit/Loss with 1 lot : Rs.2,000/-
- Setup only when the data becomes opposite to each other
- Close only when the market closes or profits or stoploss is seen in total MTM
- Margin Required for both the straddle setup is 2L
1st trade was on Gap up/down strategy, here the profit was booked early due to thick line which is the OI line 51000, where there was early rejection and strong resistance from the Call Side.
2nd trade was purely based on Podcast levels with Data positive and 4 department of OI being positive, still the Bank Nifty moved in the another direction and stoploss was hit.
Notes:
- Gap up/down Strategy needs to be taken if there's enough space based on ATR lines and OI lines or any thick Lines. Although this isn't mandatory, but good to follow.
- OI change needs to be checked in realtime, and since NIFTY was on opposite direction of the trade, a straddle of both Bank NIFTY and NIFTY would have worked in the favor.
Optional:
- Straddle setup at the ATM strikes when NIFTY OI data is positive and Bank NIFTY data is negative or vice versa on both of the indices.
- Profit/Loss with 1 lot : Rs.2,000/-
- Setup only when the data becomes opposite to each other
- Close only when the market closes or profits or stoploss is seen in total MTM
- Margin Required for both the straddle setup is 2L
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