I suggested couple of friends to buy January Nifty 5000 Put options on 15th January when they were trading around Rs. 10… one of them bought 20 lots @ 10 for just 10,000/- in total.
Look where 5000 Put expired yesterday… at 133 or 1200% gain on investment. 10000 became 1,33,000/- (while the day’s high was at 175)
This is amazing, isn’t it… not every month is the same and not everyday is an opportunity like this.
Why did I suggested him to buy 5000 put in the first place when market was trading at near 52 week highs?
See this chart, on 15th January Nifty broke inside the channel and we knew it where it will land. February should be double the rewarding month as well. I see Nifty touching down all the way down to my first target 4600-4650 where I would probably buy the 4700CE or 4800CE and target would be at least 50% retracement which comes near 5000 mark.
For now, I am looking at buying 4700PE which is merely Rs. 65 or even 4800PE which cost me 95 bucks. Target is around 150 & 250 respectively in both of them in coming 2 weeks.
I will update you all once I think the selloff is done.
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