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Nifty has continued its downfall. Some people have reported stop loss in strategy 1. In that case there is no point in waiting and hoping for a recovery. See the document – if according to rule you have to go to strategy 2 then go. Stick to discipline.
If the loss is less around 10 points only – there is no need to go to strategy 2 – just close your current strategy 1 and get into a more comfortable position.
Some people are telling me that OI (open interest) is most in the 7700 Puts.
You can see OI (open interest) here:
After reaching there click on “By Contracts”.
If you do not know what an open interest is then in short its the total number of open (or not closed) contracts. So basically right now (at this moment only) on the 7700 strike there are more number of open options & futures trades open than on any other strike.
But the fact is, it is AS OF NOW. This may change in 1 hour. In that case what you do? Do you close your trade and again re-enter because what open interest is telling you? This in my book not a great way to trade.
Fact is open interest does not work. When it works traders think that open interest did the trick, when it doesn’t they blame on other factors.
More open interest means the market is expecting that Nifty will not break 7700 or even if it breaks – on expiry it will be above 7700 PE.
Also note that I checked 1 hour before it was around 1 lakh+, now reduced to some 78,000+. Please bear in mind that OI will keep changing, which means basically you have to keep a tab on it. This is where I am not comfortable and rather stick to discipline.
Well frankly no one knows what will happen on Monday – a gap up or a gap down? Therefore I would rather stick to discipline than go with the open interest. The point is if it breaks 7700 then the losses will accumulate pretty fast as 7700 will become ITM (In The Money) and delta of 7700 will become greater than .50. This situation must be avoided.
Of course if you listened to me and got into a more comfortable position after the Bihar elections then I am sure stop loss is not hit and you are safe.
In that case stay put and wait. No need to panic.
Thank You: I think I got more than 100 wishes from you all on Diwali day. Really means a lot. Overwhelming Joy seeing your wishes. 🙂 Your trust on me gives a lot of satisfaction and motivation, especially in an industry where there is lack of trust on tips providers. Some messages were very interesting and some very motivating.
Thank You All once again for the lovely messages. Will upload some of them in my blog. Of course your phone no or emails will be hidden. I take confidentiality of your personal information VERY seriously.
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What you should do now1. If you have still not subscribed for my free 5 days course you can do by filling the form above. You will learn a lot about option trading.
2. If you are a new option trader, not much experienced and are making losses you can do my paid course. I recommend Nifty Conservative Option Course for beginners because it is easy to understand and easy to trade. Even a 18 year old young trader or a housewife can learn it and start trading from next day. It will help you to earn consistent monthly income without any software or speculation or stress or big risk. You will learn proper hedging strategies that works in any market condition.
3. If you are banknifty weekly options trader you can do my Bank Nifty Weekly Options & Futures Strategy Course. You will learn future and option hedging strategies that works in volatile market condition.
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Course fees: Click here to know the course fees.
Here is complete process of my course1. Once you pay I will send you the course materials for studying to your email.
2. You read and ask me questions via phone/whatsapp/email to clear doubts.
3. Then you start paper trading and still can ask me questions.
4. After about one month you can start trading.
5. Since doubts can come anytime the support will be there for one year.
Within one month you can start trading on your own. No need to depend on anyone once you are on your own.
If you have any question you can contact me.
You can read about me here and my trading mistakes here.
Dilip Shaw, Founder
INCOME DISCLAIMER: Any references in this site of income made by the traders are given to me by them either through Email or WhatsApp as a Thank You message. However every trade depends on the trader and his level of risk taking capability, knowledge and experience. Moreover stock market investments and trading are subject to market risks. Therefore there is no guarantee that everyone will achieve the same or similar results. My aim is to make you a better & disciplined trader with the stock trading and investing education and strategies you get from this website. Please note that I DO NOT give tips or advisory services by SMS, Email, or WhatsApp or any other form of social media. I strictly adhere to laws of my country. I only offer education on finance, investments on stock markets in the best possible way as much as I can through this website. Still, you must consult an authorized advisor or do thorough research before investing in any stock or derivative before trading any strategy given in this website. I am not responsible for any investment decision you take after reading any article given in this website. Knowledge is the only way to get success in stock markets. I try my best to give stock market investing and trading knowledge through the articles posted in this website. Thanks for visiting my website.