Though market fell down at close, not short added. Still FNO data is silent. May lead to range-bound. Time for range-bound strategies

Time: 8:37​​ am VIX:​​ 20.31​​ SGX Nifty:​​ ​​ 14888​​ FII:​​ +111​​ DII:​​ +553

 

Option Data Analysis (Apr)

 

Index

Max Pain

PCR

Highest OI

PE

 

CE

Highest Increase in OI

PE

 CE

Nifty

14700

1.68

14000

15000

15000 (18%)

15000 (6%)

Banknifty

33500

0.86

30000

35000

29000 (12%)

35000 (10%)

 

Future Analysis (Nifty & Banknifty)

Symbol

Expiry Date

Last Price

Chg
(Rs)

Chg
(%)

Open Interest

Change in OI

Change (%)

NIFTY

29-Apr-21

14,937.45

49.45

0.33%

10,709,400

-67,350

-0.62%

BANKNIFTY

29-Apr-21

32,940.00

-211.40

-0.64%

1,808,425

23,425

1.31%

 

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

  • Global market is up and SGX nifty is​​ flat

  • FII is in sell mode​​ 

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

  • PEs are added at 15000 and CEs are added at 15000

  • More number of PEs are added than CEs

  • Max pain is at 14700 (No Change in Max Pain)

  • PCR is not changing

  • Net future Position is in Neutral

  • Time to sell more PE and less CE

 

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

 

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

  • Highest PE is at 30000 and Highest CE is at 35000

  • PEs​​ are sold at 29000 and CEs are sold at 35000

  • More number of CEs have been added than PEs

  • Max Pain is at 33500 (No change in Max Pain)

  • PCR is not changing

  • Net future position is in Neutral

  • Time to sell more PE and less CEs

 

Executed Trades

  • Exited the​​ short at 15013 with SL 14975

  • Exited Elite+

  • Exited put calendar with a profit of 1300

  • Exited hedged ratio with profit of 2400

  • Initiated simple short strangle at Close Sold 13600 PE and 15700 CE in Apr (Monthly)

Trading Plan

  • Will manage short​​ strangle

 

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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