Bullish mode as long added and pain is up, however momentum comes down as CEs added at 14K (High CE OI). Market may move slowly. Time to sell PE

Time:​​ 5:20​​ am VIX:​​ 21.11​​ SGX Nifty:​​ ​​ 14069​​ FII:​​ +1825​​ DII:​​ -587

 

Option Data Analysis (Jan)

 

Index

Max Pain

PCR

Highest OI

PE

CE

Highest Increase in OI

PE

 CE

Nifty

13650

1.69

13000

14000

13900(164%)

14000 (33%)

Banknifty

31000

1.63

27000

32000

31000 (50%)

32500 (54%)

 

Future Analysis (Nifty & Banknifty)

Symbol

Expiry Date

Last Price

Chg
(Rs)

Chg
(%)

Open Interest

Change in OI

Change (%)

NIFTY

28-Jan-21

14,035.90

47.05

0.34%

9,277,950

3,660,225

65.15%

BANKNIFTY

28-Jan-21

31,371.95

-53.80

-0.17%

940,925

264,750

39.15%

 

Nifty​​ (Over all FNO​​ Position: Bullish)

  • Global market is​​ bit​​ positive and SGX nifty is​​ positive

  • FII is in buy mode

  • Highest PE is at 13000 and highest CE is at 14000.

  • PEs are added at 13900 and CEs are added at 14000

  • More number of PEs are added than CEs

  • Max pain is at 13650 (Up by 50​​ points)​​ 

  • PCR is not changing

  • Net future Position is in long

  • Time to sell more PEs

 

Banknifty​​ (Over all FNO Position: Bullish)

 

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

  • Highest PE is at 27000 and Highest CE is at 32000

  • PEs are sold at 31000 and CEs are​​ sold at 32500

  • More number of CEs have been added than PEs

  • Max Pain is at 31000 (Up by 500 points)

  • PCR is not changing

  • Net future position is in short

  • Time to sell more PEs

 

Executed Trades

  • Added Bullish Elite+ at 13500

Trading Plan

  • Will Manage Elite+, Strangle and Straddle

 

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.