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)
Highest Increase in OI
Future Analysis (Nifty & Banknifty)
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.
Sold OTM 36000CE X 2 @21.8.
Booked loss of 90K in intraday
Will take butterfly if needed in the end.
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.
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