Open Interest respects future position now. CEs are sold heavily now. Nifty is weaker, but Banknifty is still strong

Time: 7:30 am  
VIX: 11.21      SGX Nifty: 9638        FII: +193 Cr        DII: +455 Cr
Open
Interest Analysis
Index
Max Pain
PCR
Highest
PE
CE
Highest Increase
PE
          CE
Nifty
9600
1.11
9500
9700
9450 (10%)
9800 CE (7%)
Banknifty
23700
1.46
23500
24000
23500 (11%)
24200 (199%)
                              
Technical
Data and Analysis
Index
Support
Resistance
4 Hour Trend
Daily Trend
Weekly Trend
Nifty
9376
9725
Up
Up
Up
Banknifty
23289
24636
Up
Up
Up
Future
position and Volume Analysis (Nifty and Banknifty stocks)
Long Build Up
Profit Booking
Short Build Up
Short Covering
High Delivery Volumes
Grasim, Tata Power, Ultratech, EM,
Canara, Infy, ACC,
Hindalco, Lupin, ONGC, Coal India, Syndicate,
Karnataka Bank, Indusind, Hero, Airtel, TCS, HDFC Bank
Yes, Ambuja, sun pharma,
HDFC, HCL, ITC, SBI
Airtel, TCS, HDFC, Indusind
Nifty
(Over all FNO Position: Neutral with negative bias)
·                    
FIIs are in buy side now.
·                    
Global market is slight negative and SGX nifty is flat.
·                    
More shorts are added, OI started respecting Future positions
·                    
Highest CE is at 9700 and highest PE is moved to 9500.
·                    
CEs are sold heavily yesterday in multiple strike prices.
·                    
PE is sold only at 9450.
·                    
If Banknifty were weak, it would have been disaster. However
Banknifty is strong.
·                    
Max Pain is at 9600 and PCR is neutral.
·                    
Good time to sell CE at 9800 and 9750.
Banknifty (Over all FNO Position: Neutral)
·                    
Both ICICI Bank and HDFC Bank are down in USA.
·                    
Highest CE is at 24000 and Highest PE is moved up at 23500.
·                    
23500 PE is sold heavily and CE is sold at 24200 CE.
·                    
PCR looks ultra-bullish and Max Pain is at 23700.
·                    
CEs and PEs are sold at equal distance.
·                    
Wild Animal is set to settle down, but it is not bearish.
·                    
Downside is very limited and it is stronger than Nifty.
·                    
Good to sell 24200 CE and 24100 CE.
·                    
Good to sell 23300 PE and 23400 PE.
Executed Trades
ü 
Done expiry trading made only 16K.
ü 
Done error trade and fought with it. Sold PE two times by
mistake
ü 
90% free cash
Trading Plan
Ø 
Will sell more CEs in current month
Ø 
Will slowly sell options in both sides slowly, but more CEs.
Open Positions

Product Instrument Qty. Avg. price LTP P&L Chg.
NRML NIFTY17JUL9200PE NFO -900 23.05 24.00 -855.00 +4.12%
TOTAL -855

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.