Nifty looks bearish and Banknifty looks positive. Banking results are ahead. Looks mixed & volatile. Better to initiate iron condor in Aug, avoid July positions.

Time: 8:43 am VIX:​​ 11.76​​ SGX Nifty:​​ 15796​​ FII:​​ -163​​ DII:​​ +2188

 

Option Data Analysis (Aug)

 

Index

Max Pain

PCR

Highest OI

PE

 

CE

Highest Increase in OI

PE

 CE

Nifty

15800

1.30

15000

16000

15500 (11%)

16300 (57%)

Banknifty

35000

0.93

33500

36000

35000 (20%)

35000 (15%)

 

Future Analysis (Nifty & Banknifty)

Symbol

Expiry Date

Last Price

Chg
(Rs)

Chg
(%)

Open Interest

Change in OI

Change (%)

NIFTY

26-Aug-21

15,888.05

28.35

0.18%

1,736,350

336,150

24.01%

BANKNIFTY

26-Aug-21

35,142.10

263.05

0.75%

435,025

75,775

21.09%

 

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

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

  • FII is in buy mode.​​ 

  • Highest PE is at 15000 and highest CE is at 16000.

  • PEs are added at 15500 and CEs are added at 16300.

  • More number of PEs are added than CEs.

  • Max pain is at 15800 (Down by 100 points)

  • Max pain is at 15800 (No change in max pain)

  • PCR is not changing.

  • Net future Position is in Long.​​ 

  • Time to sell CE in Aug

 

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

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

  • Highest PE is at 33500 and Highest CE is at 36000

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

  • More number of PEs have been added than CEs.

  • Max Pain is at 35000 (Up by 100 points)

  • PCR is not changing.

  • Time for double calendar as VIX is low.

  • Net future Position is in Long.

  • Time to avoid as more​​ banking results are there

Executed Trades

  • Done Intraday Trading and made loss of 25k

  • Carry forwarded double calendar, incurred 10K loss

 

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.