Last hour short covering seems to be dead cat bounce, aggressive shorts added in Nifty and banknifty. Looks bearish. Time to sell more CE

Time: 8:20​​ am VIX:​​ 18.54​​ SGX Nifty:​​ 17660​​ FII:​​ -1958​​ DII:​​ NA

 

Option Data Analysis (Oct)

 

Index

Max Pain

PCR

Highest OI

PE

 

CE

Highest Increase in OI

PE

 

 CE

Nifty

17700

1.72

17000

18000

17000 (11%)​​ 

18500 (26%)

Banknifty

37500

0.75

36000

38500

36500 (28%)

38000 (29%)

 

Future Analysis (Nifty & Banknifty)

Symbol

Expiry Date

Last Price

Chg
(Rs)

Chg
(%)

Open Interest

Change in OI

Change (%)

NIFTY

28-Oct-21

17,766.90

-125.65

-0.70%

5,827,300

1,806,150

44.92%

BANKNIFTY

28-Oct-21

38,129.05

-208.15

-0.54%

736,050

286,050

63.57%

 

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

  • Global​​ market is​​ down​​ and SGX nifty is​​ down.

  • FII is in sell mode.​​ 

  • Highest PE is at 17000 and highest CE is at 18000.

  • PEs are added at 17000 and CEs are added at 18500.

  • More number of CEs are added than PEs.

  • Max pain is at 17700 (No change in max pain)

  • PCR is not​​ changing

  • Net future Position is in short

  • Time to sell more​​ CE

 

Banknifty​​ (Over all FNO Position:​​ Bearish)

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

  • Highest PE is at 36000 and Highest CE is at 38500

  • PEs are sold at 36500 and CEs are sold at 38000.

  • More number of CEs have been added than PEs.

  • Max Pain is at 37500 (No change in max pain)

  • PCR is not changing.

  • Net future Position is in short

  • Time to sell more​​ Ce

 

Executed Trades

  • Done intraday Trading and made loss of 65K

Trading Plan

  • Will do intraday​​ trading.

 

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.