Nifty looks bullish with long, but Banknifty looks bearish with short in HDFC Bank. Time to have put butterfly in Nifty and sell CE in banknifty

Time: 8:50 am VIX:​​ 18.84​​ SGX Nifty:​​ ​​ 15292​​ FII:​​ +960​​ DII:​​ -564

 

Option Data Analysis (Jun)

 

Index

Max Pain

PCR

Highest OI

PE

 

CE

Highest Increase in OI

PE

 CE

Nifty

15000

1.69

14000

16000

14500 (22%)

15300 (53%)

Banknifty

34500

0.77

37000

40000

33000 (19%)

37000 (54%)

 

Future Analysis (Nifty & Banknifty)

Symbol

Expiry Date

Last Price

Chg
(Rs)

Chg
(%)

Open Interest

Change in OI

Change (%)

NIFTY

24-Jun-21

15,266.00

35.05

0.23%

4,584,150

2,142,000

87.71%

BANKNIFTY

24-Jun-21

34,918.00

-174.75

-0.50%

702,575

263,375

59.97%

​​ 

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

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

  • FII is in buy mode.​​ 

  • Highest PE is at 14000 and highest CE is at 16000.

  • PEs are added at 14500 and CEs are added at 15300.

  • More number of CEs are added than PEs.

  • Max pain is at 15000 (No change in Max Pain)

  • PCR is not​​ changing.

  • Net future Position is in long.​​ 

  • Time to sell only PE

 

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

 

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

  • Highest PE is at 37000 and Highest CE is at 40000

  • PEs are sold at 33000 and CEs are sold at 37000.

  • More number of CEs have been added than PEs.

  • Max Pain is at 34500 (No change in max​​ pain)

  • PCR is not changing.

  • Net future position is in short.​​ 

  • Time to sell​​ CE.

 

Executed Trades

  • Sold OTM 36000CE X 2 @21.8.

  • Booked loss of 90K​​ in intraday

Trading Plan

  • Will take​​ butterfly if needed in the end.

 

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.