Gamma effect driven by Big Brother HDFC Bank still exists in Banknifty. Nifty trend line support is at 8750.

Gamma effect driven by Big Brother HDFC Bank still exists in Banknifty. Nifty trend line support is at 8750.
Time: 7:00 am                                            FII: +8043 Cr DII:
-5631 Cr
Nifty
·        
Nifty is back to form with taking support from Banknifty and IT
sector.
·        
INFY and TCS are bullish and they are heavy weights.
·        
Nifty is in last segment of Fibonacci retracement (100%).
·        
As long as it does not break 8750, it is still bullish.
·        
Nifty took support around 8700 and went up.
·        
MACD positive cross over is going to happen.
·        
There was no significant long and short position added to
Banking stocks other than HDFC Bank.
·        
RSI is going up and ADX is flat.
·        
RSI is in increasing patter though it is in over-bought regon.
·        
Nifty is on the way to target 9000 by March 2nd which
will be led by Banknifty and IT.
Banknifty
·        
ICICI Bank is up and HDFC Bank is down in USA.
·        
4% Aggressive long positon added HDFC Bank, which needs to come
down before expiry.
·        
Banknifty will be highly volatile, stay away as HDFC Bank can
cause bigger movements.
·        
There was no significant long and short position added to
Banking stocks other than HDFC Bank.
·        
Banknifty is willing to go up with staying over-bought region.
·        
It is going to test the patience of short sellers.
·        
RSI is going up and ADX is trying to go up again.
·        
It is time to sell PE in next month.
·        
Banknifty is revised with support at 20400.
My Position & Trading Plan
·        
Overall I had taken positions for 50L.
·        
Due to the gamma effect last week, there was a loss of 1L for my
folio.
·        
It is 2% loss for my positions. I have booked and exited completely
from current month.
·        
Created Fresh position in March and did not modify Nifty as it
is safe.
·        
Bought Banknifty Mar 20000 PE and sold out 19500 PE, 19000 PE
and 18500 PE
·        
Sold out 22000 CE alone as I am bullish.  Will review the conditions going forward

·        
This is second time I am hitting SL for my folio.
Product Instrument Qty. Avg. price LTP P&L Chg.
NRML NIFTY17MAR8500PE NFO -600 53.42 44.90 +5112.19 -15.95%
NRML BANKNIFTY17MAR18500PE NFO -400 31.94 29.00 +1174.00 -9.20%
NRML BANKNIFTY17MAR19000PE NFO -400 63.32 60.00 +1326.00 -5.24%
NRML BANKNIFTY17MAR19500PE NFO -400 117.00 115.00 +800.00 -1.71%
NRML BANKNIFTY17MAR22000CE NFO -400 47.00 45.20 +720.00 -3.83%
NRML NIFTY17MAR9300CE NFO -300 11.20 15.05 -1155.00 +34.38%
NRML NIFTY17DEC9000CE NFO -150 509.20 541.80 -4890.00 +6.40%
NRML NIFTY17DEC9000PE NFO -150 400.00 386.50 +2025.00 -3.37%
NRML NIFTY17MAR8100PE NFO -150 17.00 11.95 +757.50 -29.71%
NRML NIFTY17MAR8300PE NFO -150 26.00 23.65 +352.50 -9.04%
NRML NIFTY17MAR8800CE NFO -150 160.79 170.15 -4117.50 +5.82%
NRML NIFTY17MAR8800PE NFO -150 146.00 117.75 +8460.00 -19.35%
NRML NIFTY17MAR8900CE NFO -150 122.75 117.00 +862.50 -4.68%
NRML NIFTY17MAR8900PE NFO -150 158.98 161.90 -438.75 +1.84%
NRML NIFTY17MAR9400CE NFO -150 9.20 8.90 +45.00 -3.26%
NRML BANKNIFTY17MAR20000PE NFO +80 221.00 214.20 -544.00 -3.08%
NRML NIFTY17MAR8700PE NFO +150 86.12 87.10 +146.25 +1.14%
NRML BANKNIFTY17FEB19500PE NFO 0 0.00 5.55 +1064.00 NA
MIS BANKNIFTY17FEB19700PE NFO 0 0.00 7.60 +6072.00 NA
NRML BANKNIFTY17FEB20000PE NFO 0 0.00 21.00 -678.00 NA
MIS BANKNIFTY17FEB20200PE NFO 0 0.00 43.00 -462.00 NA
NRML BANKNIFTY17FEB20200PE NFO 0 0.00 43.00 -8474.00 NA
NRML BANKNIFTY17FEB20300PE NFO 0 0.00 62.00 -12510.00 NA
NRML BANKNIFTY17FEB20500PE NFO 0 0.00 127.50 +9226.00 NA
NRML BANKNIFTY17FEB20600CE NFO 0 0.00 115.60 -33788.00 NA
NRML BANKNIFTY17FEB20600PE NFO 0 0.00 178.00 -13656.00 NA
NRML BANKNIFTY17FEB20800CE NFO 0 0.00 51.00 +3784.00 NA
NRML BANKNIFTY17FEB20800PE NFO 0 0.00 312.10 -58240.00 NA
NRML BANKNIFTY17FEB20900CE NFO 0 0.00 32.75 -108.00 NA
NRML BANKNIFTY17FEB21000CE NFO 0 0.00 19.50 +1300.00 NA
TOTAL -95,834.31

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.

 

 

Leave comment

Your email address will not be published. Required fields are marked with *.