Short covering happened in PSU Banks, Equal speculation and expiry will make high volatile day

Time: 9:00 am  
VIX: 11.99      SGX Nifty: 9505        FII: -469 Cr        DII: +169 Cr
Open
Interest Analysis
Index
Max Pain
PCR
Highest
PE
CE
Highest Increase
PE
          CE
Nifty
9500
0.90
9500
9700
9400 (20%)
9550 CE (60%)
Banknifty
23300
0.84
23000
23500
23100 (87%)
23300 (90%)
                              
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
ICICI, Sun Pharma, Coal India, Bankindia,  
Asianpaint, Oil,
Bajaj, ONGC, Hero, Axis,   
Federal, Kotak
Indusind, Ambuja, ACC,
Vedl, Maruti, Canara, Yes, Tata Steel  
Bajaj, Axis
Nifty
(Over all FNO Position: Neutral)
·                    
FIIs are in sell side now.
·                    
Global market is mixed and SGX nifty is flat.
·                    
Equal speculation exits in long and short and hence it will be
volatile.
·                    
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 9400.
·                    
Max Pain is at 9500 and PCR is too weak.
·                    
Good short covering happened, but still long is not maintained
yet.
·                    
Range between high CE and PE is still 200. It is highly
volatile.
Banknifty (Over all FNO Position: Neutral)
·                    
Both ICICI Bank and HDFC Bank are up in USA.
·                    
Highest PE is at 23000 and Highest CE is at 23500.
·                    
23100 PE is sold and CE is sold at 23300 CE.
·                    
Equal amount of CEs and PEs are sold yesterday.
·                    
Good short covering happened in PSU banks.
·                    
PCR is very weak and Max Pain is at 23300.
·                    
Good time to capture theta and vega today irrespective of gamma.
Executed Trades
ü 
Made intraday profit of just 3K because wild animal was highly
volatile
ü 
Having multiple short strangles in Banknifty.
Trading Plan
Ø 
Planning to do expiry trading
Ø 
Planning to take short strangle in banknifty
Open Positions

Product Instrument Qty. Avg. price LTP P&L Chg.
NRML BANKNIFTY17JUN22700PE NFO -1200 6.75 5.00 +2094.00 -25.87%
NRML BANKNIFTY17JUN22800PE NFO -1200 6.50 7.05 -664.00 +8.52%
NRML BANKNIFTY17JUN23600CE NFO -1200 9.61 7.25 +4288.00 -24.55%
NRML BANKNIFTY17JUN23700CE NFO -1200 9.26 4.40 +5828.00 -52.47%
NRML BANKNIFTY17JUN22600PE NFO -600 5.97 4.20 +2370.00 -29.69%
MIS BANKNIFTY17JUN22300PE NFO 0 0.00 2.35 -146.00 NA
MIS BANKNIFTY17JUN22400PE NFO 0 0.00 2.45 +2922.00 NA
MIS BANKNIFTY17JUN22500PE NFO 0 0.00 3.00 +7440.00 NA
MIS BANKNIFTY17JUN22800PE NFO 0 0.00 7.05 -1124.00 NA
MIS BANKNIFTY17JUN23500CE NFO 0 0.00 14.00 -4971.00 NA
NRML BANKNIFTY17JUN23500CE NFO 0 0.00 14.00 -4593.00 NA
MIS BANKNIFTY17JUN23700CE NFO 0 0.00 4.40 -2006.00 NA
MIS BANKNIFTY17JUN23800CE NFO 0 0.00 2.90 +4536.00 NA
MIS BANKNIFTY17JUN23900CE NFO 0 0.00 2.15 +11552.00 NA
MIS BANKNIFTY17JUN24000CE NFO 0 0.00 1.50 +11664.00 NA
TOTAL 39,190

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.

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