Shorts added in Banknifty than Nifty with decreasing max pain (800). Looks weak. Time for Elite+ in May or sell CE

Time: 8:55 am VIX:​​ 23.00​​ SGX Nifty:​​ ​​ 14844​​ FII:​​ NA​​ DII:​​ NA

 

Option Data Analysis (Apr)

 

Index

Max Pain

PCR

Highest OI

PE

 

CE

Highest Increase in OI

PE

 CE

Nifty

14600

1.40

14000

15000

14300​​ (7%)

14500​​ (68%)

Banknifty

32700

0.85

30000

34000

28000 (60%)

32000​​ (183%)

 

Future Analysis (Nifty & Banknifty)

Symbol

Expiry Date

Last Price

Chg
(Rs)

Chg
(%)

Open Interest

Change in OI

Change (%)

NIFTY

29-Apr-21

14,367.00

-522.40

-3.51%

11,572,650

263,700

2.33%

BANKNIFTY

29-Apr-21

30,953.40

-1,664.15

-5.10%

1,885,150

153,275

8.85%

​​ 

Nifty​​ (Over all FNO Position: Range-bound with positive​​ bias)

  • Global market is up and SGX nifty is up

  • FII is in sell mode​​ 

  • Highest PE is at 14000 and highest CE is at 15000.

  • PEs are added at 14300​​ and CEs are added at​​ 14500

  • More number of CEs are added than PEs

  • Max pain is at​​ 14600​​ (Down​​ by​​ 150 points)

  • PCR is​​ not changing

  • Net future Position is in Neutral

  • Time to sell more PE and less CE

 

Banknifty​​ (Over all FNO Position: Range-bound with positive bias)

 

  • ICICI Bank is up and HDFC Bank is down in USA.

  • Highest PE is at 30000 and Highest CE is at 34000

  • PEs are​​ sold at 28000 and CEs are sold at​​ 32000

  • More number of CEs have been added than PEs

  • Max Pain is at​​ 32700​​ (Down by 800 points)

  • PCR is not changing

  • Net future position is in​​ Short​​ 

  • Time to sell more PE and less CEs

 

Executed Trades

  • Exited put calendar with Rs 3100 loss

  • Exited PE alone strangle and sold 15400 & 15300 CE

  • Having only CEs

  • started intraday option selling in BNF (Tried with one lot)

Trading Plan

  • Will manage short strangle Diagonal Calendar

 

My Position​​ 

 

Jegathesan Durairaj, a mathematician by qualification, an Ex-software professional and now a full time Risk Defined Option Writer. With his Open Book Strategies, he is the most known identity in twitter as itjegan, with huge followers. He had won Zerodha 60 Day Challenge – 10 Times round-the-clock. He is one of the prime Option Writing Trainer and tutored close to 1000 members till now.

He is the Mastermind of CapitalZone – Active Option Trading where Traders can avail Trading Chart with customised indicators, FNO tools and Payoff analysis. His keynote is to provide whole FNO deets to be handy for Traders in a sole place.

Now he is taking more heed on hedging portfolio in Option Writing where we might subject to more market risk. He is streamlining his strategies often and improving perpetually. At this time unfolding ways to measure good-quality Trend Following System.

Conducting workshop in all Metro Cities (Delhi, Mumbai, Bangalore, Chennai and Coimbatore) often based on queries from Traders.

 

 

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