Short covering and followed by fresh long in Axis and Yes Bank. HDFC Bank shines (Chart). BNF is set to reach all time high.

Short covering and followed by fresh long in Axis and Yes Bank. HDFC Bank shines (Chart). BNF is set to reach all time high.
Time: 5:40 am                                            FII: -1435 Cr DII:
+1535 Cr


Nifty
·        
DII aggressive buy is making market stable and bullish.
·        
Aggressive shorts maintained in TCS and ITC which are heavy
index weights.
·        
INFY and WIPRO look bullish.
·        
Mostly fresh long is maintained in all other stocks, but it is
not aggressive long.
·        
No profit booking and no short covering happened in nifty
stocks.
·        
Trend-line support is at 8780 and Pivot support is at 8711.
·        
However the momentum of uptrend is coming down.
·        
Huge resistance is at 9000.
·        
Stay bullish until it breaks 8711.
Banknifty
·        
ICICI Bank and HDFC Bank are up in USA.
·        
Banknifty bullishness driven by Axis Bank and HDFC Bank right
now.
·        
HDFC Bank is having target of 1470 by April 1st week
(Chart Attached).
·        
There is no bad news to Banknifty as of now.
·        
Shorts added to Banking stocks did not have weightage (IndusInd
and PNB).
·        
Short covering and followed by fresh long in yes bank and Axis
Bank.
·        
No significant position is in PSU Banks.
·        
Expecting break out in Axis Bank which is bullish up to 534 above
507.
·        
ADX is up and RSI stays in over-bought region.
·        
Having Short straddles at 21000 is giving profit.
Executed Trades
·        
Sold out additional 18500 PE and 19000 PE.
·        
Sold out 8600 PE.
·        
Exited FEB 21000 CE with no profit and loss.
Trading Plan
·        
Will sell more PE (19500 PE and 8600 PE) if it moves higher in
Nifty and Banknifty.
·        
Planning to shift few lots if 22500 is opened.
·        
Having free cash 15% now.

My Open Positions
Product Instrument Qty. Avg. price LTP P&L Chg.
NRML BANKNIFTY17FEB21000CE NFO 0 0.00 39.00 -144.00 NA
NRML BANKNIFTY17MAR18500PE NFO -600 29.09 19.85 +5544.00 -31.76%
NRML BANKNIFTY17MAR19000PE NFO -600 56.54 38.00 +11126.00 -32.79%
NRML BANKNIFTY17MAR19500PE NFO -400 117.00 70.15 +18740.00 -40.04%
NRML BANKNIFTY17MAR20000PE NFO +80 221.00 134.00 -6960.00 -39.37%
NRML BANKNIFTY17MAR21000CE NFO -80 270.00 374.35 -8348.00 +38.65%
NRML BANKNIFTY17MAR21000PE NFO -80 625.00 450.00 +14000.00 -28.00%
NRML BANKNIFTY17MAR22000CE NFO -600 50.33 73.35 -13810.00 +45.73%
NRML NIFTY17DEC9000CE NFO -150 509.20 581.05 -10777.50 +14.11%
NRML NIFTY17DEC9000PE NFO -150 400.00 353.20 +7020.00 -11.70%
NRML NIFTY17MAR8100PE NFO -150 17.00 7.10 +1485.00 -58.24%
NRML NIFTY17MAR8300PE NFO -300 22.38 14.55 +2347.50 -34.97%
NRML NIFTY17MAR8500PE NFO -600 53.42 29.50 +14352.19 -44.78%
NRML NIFTY17MAR8600PE NFO -150 43.50 43.00 +75.00 -1.15%
NRML NIFTY17MAR8700PE NFO +150 86.13 60.95 -3776.25 -29.23%
NRML NIFTY17MAR8800CE NFO -150 176.08 222.85 -7016.25 +26.57%
NRML NIFTY17MAR8800PE NFO -150 116.00 85.50 +4575.00 -26.29%
NRML NIFTY17MAR8900CE NFO -150 122.75 157.80 -5257.50 +28.55%
NRML NIFTY17MAR8900PE NFO -150 158.98 119.10 +5981.25 -25.08%
NRML NIFTY17MAR9000CE NFO -150 91.40 104.75 -2002.50 +14.61%
NRML NIFTY17MAR9000PE NFO -150 181.95 162.45 +2925.00 -10.72%
NRML NIFTY17MAR9100CE NFO +150 50.00 65.00 +2250.00 +30.00%
NRML NIFTY17MAR9200CE NFO -300 28.55 38.55 -3000.00 +35.03%
NRML NIFTY17MAR9300CE NFO -300 11.20 21.50 -3090.00 +91.96%
NRML NIFTY17MAR9400CE NFO -150 9.20 11.55 -352.50 +25.54%
TOTAL 25,886.44

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.

 

 

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