Power of breakout

Friday closed above 16689....today 164 points higher..... 

Normally, will hold option short in normal days.. friday, I booked 6 point loss in call short and exited...that is the message of breakout...

Today..i sold call 17000 ... no issue....

Near breakdown / breakout.... always should be cautious...

Cheer up...

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Index

Today index closed above next breakout level 16689....previous breakout level was 15942..

If breakout holds, then next level may be 16842...

Hence, closed the call short today with 6 point loss..... will definitely re-enter at higher level on Monday...

(Normally breakout zone / close, not a good idea to hold the option shorts.......we should have trade discipline)

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16800 call short follow up

Exited / booked loss @ 174.80...shorted at 168.80

Nifty spot trading above 16689...hence.. closed..

Will decide on Monday...

No position....