FNO data smells bearishness, but global market is positive. Better to initiate the position once the trend is set after 3 pm.
Time: 9:05 am VIX: 21.22 SGX Nifty: 14740 FII: -932 DII: +75
Option Data Analysis (Apr)
Highest Increase in OI
Future Analysis (Nifty & Banknifty)
Nifty (Over all FNO Position: Range-bound)
Global market is up and SGX nifty is down
FII is in sell mode
Highest PE is at 14000 and highest CE is at 15000.
PEs are added at 13900 and CEs are added at 15000
More number of CEs are added than PEs
Max pain is at 14700 (No Change in Max Pain)
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 negative bias)
ICICI Bank is down and HDFC Bank is down in USA.
Highest PE is at 30000 and Highest CE is at 40000
PEs are sold at 32000 and CEs are sold at 33000
More number of CEs have been added than PEs
Max Pain is at 33500 (Down By 500 points)
PCR is not changing
Net future position is in Neutral
Time to sell more PE and less CEs
Taken Elite+ (Bearish View) in Nifty
Bought 15200 PE, sold 14500 PE and 14200 PE Sold 15500 CE * 2
Will Manage Elite+ and Naked call
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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