No change in max pain, future OI, but still PE OIs are added in 17000 as a strong support. Looks range-bound. Can do range-bound strategies

Time: 8:35​​ am VIX:​​ 14.90​​ SGX Nifty:​​ 17416​​ FII:​​ -145​​ DII:​​ -136

 

Option Data Analysis (Sep)

 

Index

Max Pain

PCR

Highest OI

PE

 

CE

Highest Increase in OI

PE

 

 CE

Nifty

17000

1.53

17000

17500

17400 (20%)​​ 

17400 (11%)

Banknifty

36100

1.12

35000

38000

34500 (27%)

37500 (8%)

 

Future Analysis (Nifty & Banknifty)

Symbol

Expiry Date

Last Price

Chg
(Rs)

Chg
(%)

Open Interest

Change in OI

Change (%)

NIFTY

30-Sep-21

17,369.10

-35.55

-0.20%

15,354,600

394,500

2.64%

BANKNIFTY

30-Sep-21

36,573.00

-184.15

-0.50%

1,865,975

-127,675

-6.40%

 

Nifty​​ (Over all FNO Position: Range-bound)

  • Global market is​​ mixed​​ and SGX nifty is​​ flat.

  • FII is in sell mode.​​ 

  • Highest PE is at 17000 and highest CE is at 17500.

  • PEs are added at 17400 and CEs are added at 17400.

  • More number of PEs are added than CEs.

  • Max pain is at 17000 (No change in​​ Max pain)

  • PCR is not changing

  • Net future Position is in neutral

  • Time for chicken iron condor

 

Banknifty​​ (Over all FNO Position: Range-bound)

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

  • Highest PE is at 35000 and Highest CE is at 38000

  • PEs are sold at 34500 and CEs are sold at 37500.

  • More number of PEs have been added than CEs.

  • Max Pain is at 36100 (No change in max pain)

  • PCR is not changing.

  • Net future Position is in neutral.

  • Time to have iron condor.

 

Executed Trades

  • Done​​ intraday Trading and made Loss of 3L

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.