FII are in sell, but FNO remains still silent. Nifty has strong support at 15500 as max pain climbed up. Time for iron Condor in July as VIX has come down

Time: 8:45​​ am VIX:​​ 15.57​​ SGX Nifty:​​ ​​ 15759​​ FII:​​ -186​​ DII:​​ +984

 

Option Data Analysis (Jun)

 

Index

Max Pain

PCR

Highest OI

PE

 

CE

Highest Increase in OI

PE

 CE

Nifty

15500

1.61

15000

16000

15700 (39%)

15800 (17%)

Banknifty

35000

0.87

33000

40000

33500 (45%)

35500 (14%)

 

Future Analysis (Nifty & Banknifty)

Symbol

Expiry Date

Last Price

Chg
(Rs)

Chg
(%)

Open Interest

Change in OI

Change (%)

NIFTY

24-Jun-21

15,783.75

82.90

0.53%

10,969,500

445,200

4.23%

BANKNIFTY

24-Jun-21

35,598.05

89.55

0.25%

1,802,075

-8,225

-0.45%

 

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

  • Global​​ market is weak and SGX nifty is​​ flat.

  • FII is in​​ sell​​ mode.​​ 

  • Highest PE is at 15000 and highest CE is at 16000.

  • PEs are added at 15700 and CEs are added at 15800.

  • More number of PEs are added than CEs.

  • Max pain is at 15500 (Up by 100 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)

 

  • ICICI Bank is​​ flat​​ and HDFC Bank is​​ flat​​ in USA.

  • Highest PE is at 33000 and Highest CE is at 40000

  • PEs are sold at 33500 and CEs​​ are sold at 35500.

  • More number of PEs have been added than CEs.

  • Max Pain is at 35000 (No change in Max Pain)

  • PCR is not changing.

  • Net future position is in neutral.​​ 

  • Time to sell PE.

 

Executed Trades

  • Done intraday trading and made profit of 1.2L

Trading Plan

  • Will do intraday trading in Banknifty.

 

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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