Do not try to trade against the tide. Keep the stoploss tight and strictly follow the same.
I want to advise you all, not to go for averaging at this level. Keep stoploss intact.
Put stoploss at 160.00 we are in profit, there is no meaning in booking loss,
Book your profit at 163.00 right now. we will take position on next opportunity
nifty may consolidate at around 4830 to 4840 but we are day trader and need to wait for next opportunity, enjoy what profit we have till now.
though I advise to squire to position but brave hearts may wait till 4850 Nifty level and book profit at give target i.e 175.00. but maintain strict stoploss
Be ready to take inverse position of Put 4900 @ 160 when nifty will cross 20 EMA.
We can initiate the same position when Nifty become positive or cross 4850.00, I will give call before taking position
Buy 2 lot Put of 4900 @ 150.00
Put stoploss of 140.00 for new position of 2 lot put @ 150.00
But 2 lot more @ 146 of 4900 put
Maintain stoloss of 140.00
What you want to do with your profit?????
Book part profit on 2 lot at 165.00 and maintain stoploss of 160.00 on remaining 2 lot.
Stop loss hit, No more Call for today, as I avoid overtrade.total profit for today163-157=6*100=600165-150=15*100=1500160-146=14*100=1400Total=3500 Enjoy....!! :-)
(Brockrage need to deduct)