A small tweet on how I plan my day:
Step 1
Will see the EOD data at night and compare the changes both in weekly and monthly OI in Bank Nifty and Nifty over the previous day. So for Tuesday Night, I will compare data with Monday Night
Step 1
Will see the EOD data at night and compare the changes both in weekly and monthly OI in Bank Nifty and Nifty over the previous day. So for Tuesday Night, I will compare data with Monday Night
Step 2
Then will analyse the major changes or any abnormal change in the data of two day. What need to be seen ??
Was there any abnormal activity in any OTM or ITM strike??
Was there any big straddle selling in monthly strike??
Then will analyse the major changes or any abnormal change in the data of two day. What need to be seen ??
Was there any abnormal activity in any OTM or ITM strike??
Was there any big straddle selling in monthly strike??
If yes then go and analyse those strikes and MARK BOTH THE ENTRY AND EXIT levels on chart. Always remember market is supreme and it can trap the biggest of the biggie, so knowing both the entry and exit is important.
Now based on the above two steps, I have basic expectation of
Now based on the above two steps, I have basic expectation of
the market for the next day. The expectations means at which point I have to buy/sell CE or buy/sell PE. All these things are market on my option chart.
Step 3
Current Day morning See how the SGX is behaving and how the DOW closed overnight. Now need to see if there is any change to my last night action plan based on the global/SGX screen ??
Current Day morning See how the SGX is behaving and how the DOW closed overnight. Now need to see if there is any change to my last night action plan based on the global/SGX screen ??
Step 4
Allow the market to open, see how its behaving for first few minutes, whether the levels marked as per overnight data are working or not . And then start trading in flow of the market.
As I have marked both the entry and exit level last day only, so my both sides action
Allow the market to open, see how its behaving for first few minutes, whether the levels marked as per overnight data are working or not . And then start trading in flow of the market.
As I have marked both the entry and exit level last day only, so my both sides action
plan is always ready.
Will try to post live example with data on how it works in a day or two
Will try to post live example with data on how it works in a day or two
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