Update 29 05 24

Summary

The speaker discusses a trading strategy based on the Nifty 50 index, which they had previously shared on Telegram. They had advised not to go long on the bank Nifty if it doesn't cross 49,500 and had taken a position accordingly. The speaker also mentions a clear view of the market and a profit from a gap down. They had planned to short at 49,000 if the bank Nifty didn't rise by 10:30 am. The market opened and fell sharply, not recovering, validating their strategy. With the speaker having no current position, they are watching for opportunities to short again if the market rises slightly, noting high volatility due to the monthly expiry.

Takeaways

• 📈 The speaker had previously shared a trade process on Telegram and had a clear view that if the bank Nifty goes above 49500, they would not go long until the market travels further.
• 📉 The speaker carried out a position from the previous day and made a profit even with the market open, thanks to a good gap down.
• 🚫 The speaker had informed that if the bank Nifty does not cross 49000 by 10:30 AM, they would go short by selling a 49000 call option.
• 📊 The market opened and fell sharply without recovering, as observed by the speaker.
• ⏰ The speaker mentions that the market is currently passing the time near the one average, indicating a potential sideways movement.
• ⚠️ The speaker warns that the market could be very volatile today due to the 'Mantle Expiry', suggesting caution.
• 🈳️ The speaker does not currently hold any positions as they have already made a profit and are waiting for further market movements.
• 🔄 The speaker is considering taking a short position if the market rises slightly towards 48600, 48800, or 48850.
• 📝 The video is an update for the audience, summarizing the speaker's actions and thoughts on the current market situation.
• 🗣️ The speaker emphasizes the importance of watching the market closely, especially with the Mantle Expiry, and is ready to act based on market movements.

Q & A

What was the initial trade process shared on Telegram?

The speaker had previously shared a trade process on Telegram, which involved a clear view that if the bank Nifty goes above 49500, they would not go long until the market travels upwards.

What was the speaker's position on the trade the day before the video?

The speaker had carried out a position the previous day, which resulted in a complete profit even with the market open the next day, thanks to a good gap down.

What specific condition did the speaker mention regarding the bank Nifty and the call option?

The speaker mentioned that if the bank Nifty does not rise above 49000 by 10:30 AM, they would consider shorting the 49000 call option.

What happened when the market opened in the video?

The market opened and fell sharply, never recovering back to the previous levels, as observed by the speaker.

What is the significance of the term 'Manthani Expire' mentioned in the script?

The term 'Manthani Expire' refers to a specific expiration date for options contracts, which the speaker warns could lead to higher volatility in the market.

What is the speaker's current position in the market?

The speaker does not have any position in the market at the time of the video, as they have already made a profit and are observing the market for potential opportunities.

What is the speaker's strategy if the market rises slightly higher?

If the market rises slightly higher and approaches 48600, the speaker plans to take a short position in the market again.

What does the speaker mean by 'market open' in the context of the trade?

The term 'market open' refers to the time when the trading session begins, and in this context, it means that the speaker's trade was profitable even when the market was open the next day.

What is the speaker's view on the bank Nifty's performance?

The speaker's view is that the bank Nifty is not able to rise above 49000, which is a critical level for their trading strategy.

What advice does the speaker give regarding the market conditions on the day of the video?

The speaker advises to pay attention to the market conditions, especially considering the Manthani Expire, which could lead to significant market fluctuations.