Update - 29 July 2019

• I was happy in the morning as we had a gapup of 250 points on Bank Nifty. But in 15 minutes we were only 50 points up and near my cautious level of 29380. Once we breached that, I was pretty convinced that longs will not hold. Hence the decision to close the bullish positions immediately.

• 29700 was my selling point for calls. We turned back from 29600 something so I wrote -5X29700 CE and +1X29600 CE.

• Bank Nifty did not fall with same momentum as of Nifty. So when Nifty was at 11250 approximately, I wrote -11350 CE, +11450 CE.

• We touched 29200 on Bank Nifty and I was still hoping for 200 point fall, but we started bouncing. I wrote -5X28700 PE as I was expecting a sideways market.

Here is how my net positions looked in the end:

Here is the trade sheet:

26 July 2019 - 1 Aug 2019.xlsx

Rohit Katwal