>Trading day 6th May

With morning nifty rise many new breakouts were seen which turned out to be false by eve wth nifty taking beating as long as 5100 with 1% error either side is maintained the wave structure looks fine .
In straight words come out of longs if the above condition fails.

Today Maharashtra seamless both targets were reached was booked there.
Rajesh export 100+ was reached.
TTML was a great example of breakout + retracing back to breakout point it was a kind of triangle breakout since triangle breakouts are usually good at times I try to cash in by playing options.
For example TTML was consolidating in a triangle for last 6 trading days which made options to shed considerable premium time decay too comes in play ,I usually play out of money options provided if have some time at my disposal .
Before the breakout day 42.50 CA had shed its premium considerably from 1.80+ to a mere 0.70paisa in about 6 days,and to my delight on breakout day it went to 1.45 money doubled!! thats one advantage with out of money options
provided you have enough time left + I assume you are good at analysis to see which out of money option strike price is most effective.
Today again am gonna analyze BOMBAY DYEING.I like that stock:)