MACD Negative Crossover happened in both Nifty and Banknifty, but below zero line.

Time: 9:10 am
Banknifty
·                    
MACD negative cross-over has happened in Banknifty. It is a sell
signal in general.
·                    
However it happened below zero line. It means that it is not ultra-bearish.
·                    
We are getting more premiums in PE.
·                    
Best time to short Banknifty with limited quantity with more
Pes.
·                    
Will not be trapped if market goes up or down.
·                    
Because market is not willing to move aggressively.
·                    
HDFC bank and ICICI bank are almost flat in USA.
·                    
SBI is bleeding and volume is getting thinner and thinner.
·                    
As expected, none of banking stocks are in long position in FNO
setup.
·                    
There may be short covering, but will not lead to bullish.
Nifty
·                    
MACD negative cross-over has happened in Banknifty. It is a sell
signal in general.
·                    
However it happened below zero line. It means that it is not ultra-bearish.
·                    
Only long maintained in FMCG.
·                    
As usual, there is no volume in Nifty 50 stocks.
·                    
CIPLA has been shorted with huge volume.
My Position & Trading Plan
·                    
Booked profit in VEDL and all other positions.
·                    
Holding SBI long with hedging.
·                    
SBI is coming down regularly; there is no bandwidth in CE to
hedge it.
·                    
Shorted Banknifty with PE for hedging SBI.
·                    
Plan to hold SBI long for long time, but it is bleeding.
·                    
Planning to exit SBI based on the condition.
·                    
Will sell options in next month Banknifty contract.
·                     Rolled over SBI long and open position is updated wrongly in zerodha kite right now.

Open Positions(10) Historical Download

Product
Instrument
Qty.
Avg.
price
LTP
P&L
Chg.
NRML
SBIN16DEC265CE NFO
-6000
1.15
0.15
+6000.00
-86.96%
NRML
SBIN16DEC270CE NFO
-3000
5.25
0.15
+15300.00
-97.14%
NRML
SBIN17JAN275CE NFO
-3000
2.10
1.25
+2550.00
-40.48%
NRML
BANKNIFTY16DEC17000PE NFO
-200
11.41
5.55
+1172.00
-51.36%
NRML
BANKNIFTY16DEC17500PE NFO
-160
60.25
55.25
+800.00
-8.30%
NRML
BANKNIFTY16DECFUT NFO
-120
17,691.23
17,678.05
+1582.00
-0.07%
NRML
BANKNIFTY16DEC17400PE NFO
-80
26.90
36.00
-728.00
+33.83%
NRML
BANKNIFTY16DEC17700PE NFO
-80
113.13
118.00
-390.00
+4.31%
NRML
CRUDEOILM17JANFUT MCX
-1
3,567.00
0.00
+35670.00
NA
NRML
SBIN17JANFUT NFO
+3000
246.90
244.85
-6150.00
-0.83%
TOTAL
55,806

 

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.