Second phase of 2X return on the same day

2nd 2x rally on the same day - 27th May 2020

Nifty hitting high, Profits hitting higher.

Second rally of 2x started in Nifty 9100 CE after 12:15 and continued till 13:45 from a level of 70 to 140. Turning out to be a great day for Call options buyers. Sharp jump in Nifty from 9100 to 9200 led to this sharp swing in 9100 CE.

If someone would have held their position since 10:30 in the morning, 9100 CE from 35 to 140 by 13:40 pm, would have resulted in 4x return.

I had bought this option in the first phase from 35 to 72 as there was some resistance near 75 level. I did second phase of buying at 12:20 near 72 level and held it till 140 (13:40 pm). I thought this much profit is good enough for the day and closed my trade.

This option 9100 CE went on to touch a high of 250 and come back!!

It is a difficult to catch the full cycle of trend as no-one can predict the top and bottom of a trend. It is advisable to catch a middle part of the trend and be satisfied with the profit.

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