Banknifty returned back to bullish convergence mode, it is on the way to 21728 above 21300.

Banknifty returned back to bullish convergence mode, it is on the way to 21728 above 21300.

Time: 7:15 am                                            FII: +6415 Cr DII:
+356 Cr



Nifty
                              
Technical Data and Analysis
Support
Resistance
RSI
ADX
MACD Signal
8968
9378
61+
33-
101-
Future position and Volume Analysis
Long Build Up
Long Unwinding
Short Build Up
Short Covering
Delivery Volumes
HDFC
LT
EM
Hero
Reliance
Tata Power
LT
Infy
Open Interest Analysis
Max pain
PCR
Highest (PE)
Highest (CE)
High Increase (PE)
High Increase (CE)
9050
1.19
9000
9200
9100
(36%)
9250 (10%)
Summary
  • FII are in buy side.
  • Global market is up. SGX Nifty is up.
  • Overall Net FNO position is long.
  • Infy turned back to bullish mode, only
    reliance is in short mood.
  • MAX pain moved from 9000 -> 9050 and PCR
    increases above 1.
  • Open interest at 9100 is added heavily
    yesterday.
  • RSI turned back to increasing mode.
  • Banknifty is ready to go up and all other
    scripts are positives.
  • Nifty is bullish.
  • Safe to sell 8900 PE in next month.
Banknifty
Technical Data and Analysis
Support
Resistance
RSI
ADX
MACD Signal
20575
21705
64+
34-
269+
Future position and Volume Analysis
Long Build Up
Long Unwinding
Short Build Up
Short Covering
Delivery Volumes
HDFC
Bank
BOB
Axis
Bank
SBI
Syndicate
Federal
HDFC Bank
Kotak Bank
Open Interest Analysis
Max pain
PCR
Highest (PE)
Highest (CE)
High Increase (PE)
High Increase (CE)
21000
1.12
21000
21500
21200 (292%)
21500 (17%)
Summary
  • ICICI Bank is up and HDFC Bank is down in USA.
  • Axis bank took support and it goes up.
  • No short position is maintained.
  • Huge increase in PE selling at 21200 yesterday
  • Overall Net FNO position is in long side.
  • Banknifty came out of bearish divergence
    pattern.
Executed Trades
  • Bought Nifty April 9300 CE to hedge 9000
    Straddle and 9400 CE
  • Sold out additional 21600 CE for coming expiry
  • Having only 5% free cash.
Trading Plan
  • Will sell more PEs (8900, 8800, 8700) and
    20000 PE in next month.
  • No change is required if market comes down.
Open Positions

Product Instrument Qty. Avg. price LTP P&L Chg.
NRML NIFTY17APR8700PE NFO -900 18.89 16.50 +2148.75 -12.64%
NRML BANKNIFTY17APR19500PE NFO -800 24.50 15.65 +7080.00 -36.12%
NRML BANKNIFTY17APR22500CE NFO -800 31.00 29.00 +1600.00 -6.45%
NRML BANKNIFTY17MAR20600PE NFO -800 10.34 4.85 +4388.00 -53.07%
NRML NIFTY17APR8500PE NFO -600 10.75 6.80 +2370.00 -36.74%
NRML NIFTY17APR9400CE NFO -600 23.34 28.70 -3213.75 +22.95%
NRML NIFTY17APR9500CE NFO -600 21.33 14.55 +4065.00 -31.77%
NRML NIFTY17APR9000CE NFO -300 196.00 213.10 -5130.00 +8.72%
NRML NIFTY17APR9000PE NFO -300 82.00 64.05 +5385.00 -21.89%
NRML NIFTY17APR9200CE NFO -300 140.50 93.50 +14100.00 -33.45%
NRML NIFTY17APR9200PE NFO -300 132.00 142.00 -3000.00 +7.58%
NRML BANKNIFTY17MAR21600CE NFO -200 5.26 5.05 +42.00 -3.99%
NRML NIFTY17DEC10000CE NFO -150 165.00 181.00 -2400.00 +9.70%
NRML NIFTY17DEC10000PE NFO -150 710.00 750.00 -6000.00 +5.63%
NRML NIFTY17APR9300CE NFO +300 49.14 54.75 +1683.75 +11.42%
TOTAL 23,118.75

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.

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