Nice V shape recovery with good long added in July Contract. Looks positive. Time to create range-bound strategy in July as premium is attractive

Time: 8:50 am VIX:​​ 15.06​​ SGX Nifty:​​ ​​ 15866​​ FII:​​ -1245​​ DII:​​ +138

 

Option Data Analysis (Jul)

 

Index

Max Pain

PCR

Highest OI

PE

 

CE

Highest Increase in OI

PE

 CE

Nifty

15600

1.55

15500

16000

15000 (17%)

16000 (21%)

Banknifty

34900

1.06

34000

35000

34000 (148%)

35000 (80%)

 

Future Analysis (Nifty & Banknifty)

Symbol

Expiry Date

Last Price

Chg
(Rs)

Chg
(%)

Open Interest

Change in OI

Change (%)

NIFTY

29-Jul-21

15,794.55

44.50

0.28%

2,591,300

802,050

44.83%

BANKNIFTY

29-Jul-21

35,050.00

314.35

0.90%

651,400

134,900

26.12%

 

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

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

  • FII is in sell mode.​​ 

  • Highest PE is at 15500 and highest CE is at 16000.

  • PEs are added at 15000 and CEs are added at 16000.

  • More number of PEs are added than CEs.

  • Max pain is at 15600 (No Change in Max Pain)

  • PCR is not​​ changing.

  • Net future Position is in Long.​​ 

  • Time to sell CE.

 

Banknifty​​ (Over all FNO Position:​​ Slightly​​ Bullish)

 

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

  • Highest PE is at 34000 and Highest CE is at 35000

  • PEs are sold at 34000 and CEs are sold​​ at 35000.

  • More number of PEs have been added than CEs.

  • Max Pain is at 34900 (Down by 100 points)

  • PCR is not changing.

  • Net future position is in Long.​​ 

  • Time to sell CE.

 

Executed Trades

  • Done Intraday Trading and made Profit of 4L

Trading Plan

  • Will do​​ intraday trading in Banknifty.

 

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.