A short thread on #MFI

The basics here :

Since 99% of my own trades are in options, the calls I give are also on options. I am of the firm belief, that a basic knowledge of option greeks is necessary for any trader aspiring to trade options. For this, there are numerous books and even more resources on the net/youtube

However, a trader trying to learn Greeks face the problem of information overload. The problems are mainly 3
1. Either the text is too mathematical
2. Or the explanation is too simple just skimming the surface
3. In some cases, outright wrong info ( specially on youtube)

I have decided to make a video on options greeks in which I will try to explain simply ( without the maths 😀) but will go a bit more in-depth so that the info is usable by traders doing actual trades

Spent the major part of today designing the ppt ( 40 slides), hope to upload the video in the next few days. I will also provide the names of other resources which I have referred in making the video so that viewers can refer those texts for a more comprehensive understanding.

The video will be from the view of a trader/practitioner and not just a theoretical discussion.

I sincerely hope starters will be benefitted from my effort 🙏

A small thread on intraday support resistance logics over time

The most common is Pivot , support and resistances calculated from the previous day's data

https://t.co/ILMjMay1zc

They can be calculated for daily, weekly, monthly etc.

Camarilla levels are also quite popular. This seemed to be the next best thing after the original pivots at one point of

Over the years, many other technicians have tried to devise other methods to devise intraday support resistance points. In almost all cases, the previous days OHLC were used in some variation, in some cases today's OPEN was also used as an input

I have gone through almost all of the formulas. Some work on some days, some days it doesn't.
What struck me was that in each of the cases , we were using the OHLC and doing some maths with a multiplier/divider which WE/the trader thought fits the price action of the markets

This is the same as choosing a time period of an indicator and hope the market follows my choice of time frame to give me good trades. Like say a crossover of a 5/13 moving average, or a 14 period RSI or whatever.

Nifty fut : rising Lows and Highs, showing a megaphone or broadening formation on 15 min charts. Though a bearish pattern, here it seems has broken out. 11k CEs on monthlies seems badly trapped. As long as the CE is > 140, will maintain a strong bullish stance

EOD charts. Rising after strong accumulation and volumes. COI going up with rise in price. Can have a fast upmove anytime now till 11300. View negated below 10900

BNF 15 min charts : showing FLAG formation. Breakout above 22400, trade negated below 22200. Targets given in chart. Also higher highs and higher lows

BNF also strong accumulation yesterday. This model is also showing continuous accumulation since 16th. Almost same levels given in earlier tweet

Now there are broad positional views, or the context. Trades now will be based on realtime data , option analysis etc. But these analysis suggests keeping a bullish bias on the indices while trading now unless this data changes drastically