No shorts added yesterday, but pain comes down. Breaking 17000(High PE OI) on close basis may lead to bloodbath. Time to sell option on close basis

Time:​​ 8:50 am VIX:​​ 20.08SGX Nifty:​​ 17040​​ FII:​​ -3361​​ DII:​​ +1702

 

Option Data Analysis (Dec)

 

Index

Max Pain

PCR

Highest OI

PE

 

CE

Highest Increase in OI

PE

 

 CE

Nifty

17300

1.35

17000

18000

16800 (19%)​​ 

17200 (41%)

Banknifty

37100

0.93

34000

38000

37000 (17%)

38000 (15%)

 

Future Analysis (Nifty & Banknifty

Symbol

Expiry Date

Last Price

Chg
(Rs)

Chg
(%)

Open Interest

Change in OI

Change (%)

NIFTY

30-Dec-21

16,950.00

-289.00

-1.68%

11,709,850

420,500

3.72%

BANKNIFTY

30-Dec-21

35,891.00

-459.30

-1.26%

2,613,775

125,375

5.04%

 

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

  • Global market is bit down and SGX nifty is bit down.

  • FII is in sell mode.​​ 

  • Highest PE is at 17000 and highest CE is at 18000.

  • PEs are added at 16800 and CEs are added at 17200.

  • More number of CEs are added than PEs.

  • Max pain is​​ at 17400 (Down by 100 points)

  • PCR is not changing

  • Net future Position is in neutral.

  • Time to sell PE and CE

 

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

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

  • Highest PE is at 34000 and Highest CE is at 38000

  • PEs are sold at 37000 and CEs are sold at 38000.

  • More number of CEs have been added than PEs.

  • Max Pain is at 37100 (Down by 400 points)

  • PCR is not changing

  • Net future Position is in neutral.

  • Time to sell PE and CE

 

Executed Trades

  • Done Intraday Trading and​​ made loss of 2.65L

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.