NIFTY Gaped up. Since the breakout of 9250 was held for 15 Mins , I entered PUT 9200. This was aggressive because the level for stop loss was 9040 , which is way below the opening level.
1. 9200 PUT sold at 152 Rs
Then NIFTY touched 9220, which I though was a pullback.
2. 9100 PUT sold at 152 Rs
NIFTY crashed and consolidated around 9130. Then there was sharp rally in last 1.5 hrs. This is very difficult move.
Closed the day by squaring off both the positions.
Overall, NIFTY is making violent moves trapping trades who are looking for clear trend.
1. 9200 PUT sold at 152 Rs
Then NIFTY touched 9220, which I though was a pullback.
2. 9100 PUT sold at 152 Rs
NIFTY crashed and consolidated around 9130. Then there was sharp rally in last 1.5 hrs. This is very difficult move.
Closed the day by squaring off both the positions.
Overall, NIFTY is making violent moves trapping trades who are looking for clear trend.