Little long added in banknifty, otherwise still FNO data senses positivity. Time for range bound strategies in OCT

Time: 8:45 am VIX:​​ 16.52​​ SGX Nifty:​​ 17545​​ FII:​​ +1042​​ DII:​​ +2168

 

Option Data Analysis (Oct)

 

Index

Max Pain

PCR

Highest OI

PE

 

CE

Highest Increase in OI

PE

 

 CE

Nifty

17500

2.25

16500

17500

16500 (8%)​​ 

17700 (36%)

Banknifty

37000

0.99

37000

38500

35500 (53%)

38500 (219%)

 

Future Analysis (Nifty & Banknifty)

Symbol

Expiry Date

Last Price

Chg
(Rs)

Chg
(%)

Open Interest

Change in OI

Change (%)

NIFTY

28-Oct-21

17,595.00

175.35

1.01%

1,573,200

98,100

6.65%

BANKNIFTY

28-Oct-21

37,543.00

187.20

0.50%

267,800

55,250

25.99%

 

Nifty​​ (Over all FNO Position: Range-bound)

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

  • FII is in buy mode.​​ 

  • Highest PE is at 16500 and highest CE is at 17500.

  • PEs are added at 16500 and CEs are added at 17700.

  • More number of PEs are added than CEs.

  • Max pain is at 17500 (No change in max​​ pain)

  • PCR is not changing

  • Net future Position is in neutral

  • Time for chicken iron condor

 

Banknifty​​ (Over all FNO Position: Range-bound)

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

  • Highest PE is at 37000 and Highest CE is at 38500

  • PEs are sold at 35500​​ and CEs are sold at 38500.

  • More number of CEs have been added than PEs.

  • Max Pain is at 37000 (Down by 100 points)

  • PCR is not changing.

  • Net future Position is in long

  • Time to have iron condor.

Executed Trades

  • Done Intraday Trading and made loss of​​ 5.85L

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.