Options Trading Positions | 11 March 2019 | Update 6

It was another good day for the Bulls. NIFTY and BNF made a high of 11180.90 and 28035.60 respectively. NIFTY gained 132 points and ended almost at the day’s high at 11168.05.

BNF closed at 27966.65 gaining 204 points. There was no meaningful dip or Profit booking seen throughout the whole trading session today.

BNF has crossed its previous upper range levels of 27815 decisively and given its strong momentum, we are likely to see it crossing it’s all time high at 28388 within a few trading sessions. It may probably happen by this week expiry if the uptrend remains intact.

In regards to NIFTY, it is now trading above its previous high of 11118. In the second half of today’s trading session, it crossed a very strong resistance level at 11171.55.

If Nifty sustains above this level in tomorrow’s trading session and gives a decisive breakout, we can hold on or initiate new long positions for a target of 11252 and 11324.

At the current levels, many experts on Market News Channels as well as Social media market Gurus are advising to take profit off the table and initiate short positions.

In my opinion, when a trend starts and continues, it is not feasible to take a Contra call unless our analysis is very compelling.

Instead, we need to hold on to our profitable positions tightly and take full advantage of the uptrend with optimum Stop Loss in place.

Normally we tend to interpret that whenever the market goes up by 500-600 points, it is perceived as overbought and some correction is due.

But the market is irrational and supreme. It can remain on the uptrend and overbought for a longer timeframe. So, let us not try to fight the trend and instead go along with it.

Coming to my personal positions, my BNF Long Strangle strategy performed well and I have exited from the positions with good gains. To take advantage of the current strong up-move, I have also initiated NIFTY 11200CE Weekly Expiry with the target as mentioned above in this post.

My stock positions are not working out as expected. ICICI 380CE is only mildly positive even with the overall market up-move but I do expect it to move in the days ahead.

On the other hand, CIPLA 530PE is losing premium due to the current strong overall positive trend. I will be initiating an SL here in order to protect capital from tomorrow onwards.

Apart from the NIFTY 11200CE, I have not initiated any new positions. Any new ideas and positions will be posted on my next update of my Options Trading positions.

Here is the status of my options trading positions as on March 11, 2019 EOD:


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Realized Profits: INR (+) 70,620/-

Unrealized Profits: INR (+) 17,275/-

[DISCLAIMER: The options trading positions above are my personal trades and is intended for general information and educational purposes only, not a Buy/Sell recommendation. Please use your own risk management techniques. Any loss incurred from following my personal trades will solely be at your own risk]