Still shorts added in Banknifty and pain comes down. Nifty looks range-bound. Time to sell CE in Banknifty and PE in Nifty

Time:​​ 7:25​​ am VIX:​​ 23.69​​ SGX Nifty:​​ ​​ 14650 ​​​​ FII:​​ -2289 ​​​​ DII:​​ +553

 

Option Data Analysis (May)

 

Index

Max Pain

PCR

Highest OI

PE

 

CE

Highest Increase in OI

PE

 CE

Nifty

14600

1.54

14000

15000

14500 (24%)

14500 (42%)

Banknifty

33000

1.15

28000

37000

31000 (38%)

34000 (39%)

 

Future Analysis (Nifty & Banknifty)

Symbol

Expiry Date

Last Price

Chg
(Rs)

Chg
(%)

Open Interest

Change in OI

Change (%)

NIFTY

27-May-21

14,696.90

6.10

0.04%

10,975,725

947,625

9.45%

BANKNIFTY

27-May-21

32,735.35

-158.20

-0.48%

1,572,175

288,350

22.46%

 

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

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

  • FII is in sell mode​​ 

  • Highest PE is at 14000 and highest CE is at 15000.

  • PEs are added at 14500 and CEs are added at 14500

  • More number of PEs are added than CEs

  • Max pain is at 14600 (Down by 100 points)

  • PCR is not changing

  • Net​​ future Position is in neutral

  • Time to sell more CE

 

Banknifty​​ (Over all FNO Position: Bearish)

 

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

  • Highest PE is at 28000 and Highest CE is at 37000

  • PEs are sold at 31000 and CEs are sold at 34000

  • More number of CEs have been added than PEs

  • Max Pain is at 33000 (No change in Max Pain )

  • PCR is not changing

  • Net future position is in short

  • Time to sell more CE

 

Executed Trades

  • Doing only algo execution

Trading Plan

  • Will do intraday

 

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.

 

 

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