March 10,2022 Expiry

March 10,2022 Expiry,

Ø Today Nifty Opened a Gap up of nearly 400 points

Ø As usual when Gap up Created Immediately selling will come

Ø After 25 Min Market Settles down I build a simple strangle of 500 points i.e.; 16400PE &16900CE with Hedge legs@100 points Each

Ø 

Ø With This I get a Max Profit of 4050

Ø @10.30 Market Bounces From Support Zone I Shifted PE From 16400 to 16500

Ø 

Ø From This Nifty Moving Slowly, My 16900 CE decayed So I moved to 16850CE

Ø @ Around 1 PM I’m Sitting On Profit Of 5000

Ø @1.45PM Nifty Breaks Support Zone

Ø 

Ø My Puts are @16500 as soon as It breaks the puts are bleeding like anything

Ø I have to cover my position so I shifted 16500 PE to 16450PE and within no matter I moved calls from 16850 to 16700 Ce

Ø @2.PM My Entire Profit Gone  and I am into loss of 2500

Ø I Know 16466 will act as Major Support.But I don’t want to Take Risk I squred off all positions

Ø After 2.30Pm It Bounces From Support I again Build a postion as 16450Pe and 16650Ce

Ø But I Can’t Hold it

Ø So I ended up No Profit No loss

MY MISTAKES

1.      @2.30 Nifty Bounces from 16448 level and sustains

I entered 16450PE to 16650CE range Entry Was Perfect

But Exit was very Bad

2.    And again @2.45 I entered 16500PE to 16700Ce This is also Ok but I can’t Hold for 10Min.If holded I ended up in a Profit of around 6K.

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