Trade journal for 19th Oct

Indian market is in tight bear grip. It reminds me of 19th October 1987.  Some brokers are seeing the ghost of 29th October 1929.

And, why not ?

The foretasted dates of WD Gann  in 1929 has close similarity with Nifty performance in 2018.  This also coincides with 90 years  cycle.

source: internet

This is a challenging time for stock investors and arguably fertile time for shorting futures. I expect market will give up move once PCR goes in .08 to ,06 range. Though the increase of IV and HV together in last two days indicates more fear in market.

I set up NF strategy considering a small bullish movement in early next week.

Positional stock trading:

I am  buying Nifty shares slowly fr each drop of 50 to 100 points.

Nifty

Sold 9800 PE for Nov and bought 9500 Nov put.
Sold 10500 CE and bought 10700 CE

Position greeks

delta       16
Vega    1579
Theta    -384
Gamma  .06

Will buy NF above 10334 and sell below 10273. Target 40 points with 2 lots.


Banknifty 

Bought 25000PE
Sold  2*24500 PE

Maxpain for BNF 25200

maximum put unwind happen from 25000 and still OI is around 690 k.
750 K is maximum OI  is at 24500

upside brake even 24950  so will buy intraday future above 25155