Huge shorts added with moving down max pain in Banknifty. Looks bearish along with global market. Time to sell CE

Time:​​ 8:30​​ am VIX:​​ 23.03​​ SGX Nifty:​​ ​​ 14454 ​​​​ FII:​​ NA ​​ DII:​​ NA

 

Option Data Analysis (May)

 

Index

Max Pain

PCR

Highest OI

PE

 

CE

Highest Increase in OI

PE

 CE

Nifty

14700

1.58

14000

15000

13800 (31%)

14800 (64%)

Banknifty

33000

1.17

28000

37000

28000 (50%)

36000 (56%)

 

Future Analysis (Nifty & Banknifty)

Symbol

Expiry Date

Last Price

Chg
(Rs)

Chg
(%)

Open Interest

Change in OI

Change (%)

NIFTY

27-May-21

14,664.00

-268.25

-1.80%

10,805,025

1,351,950

14.30%

BANKNIFTY

27-May-21

32,824.90

-982.35

-2.91%

1,327,300

-12,950

-0.97%

 

Nifty​​ (Over all FNO Position:​​ Bearish)

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

  • FII is in sell mode​​ 

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

  • PEs are added at 13800 and CEs are added at 14800

  • More number of CEs are added than PEs

  • Max pain is at 14700 (No change in Max pain)

  • PCR is not changing

  • Net​​ future Position is in short​​ 

  • Time to sell​​ more CE

 

Banknifty​​ (Over all FNO Position:​​ Bearish)

 

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

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

  • PEs are sold at 28000 and CEs are sold at 36000

  • More number of​​ PEs have been added than CEs

  • Max Pain is at 33000 (Down by 500 points)

  • PCR is not changing

  • Net future position is in neutral

  • Time to sell more​​ CE

 

Executed Trades

  • No plan

Trading Plan

  • No plan

 

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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