Thursday, 25 November 2021

Day 8:Banknifty trade progress

How banknifty might perform in the December series 

Banknifty September series closed at 37364, and December future is trading at 37548. FNO data indicates that participants carry forward short positions, which is not very comfortable for the December series.

Banknifty Dec future chart in the daily time frame

banknifty daily chart

Banknifty is consolidating between 38000 and 36800. A big trend will emerge once banknity breaks any of the levels. 

The market is still in bear grip in the weekly and daily time frames. However, BNF managed to protect 21 EMA weekly, which is a positive sign for the bull. 

Astroview: Bullish for 26th November

Position option greeks

  • Delta   5 
  • Gamma  -0.092
  • Vega   -34748
  • Theta   4,706
The position has a very high vega. Theta and Vega ratio is near 1:9, which works against position if market volatility increases.

Adjustment - Need to make Theta to Vega ratio near 1:4

2nd Dec weekly strategy - No change in position. Strategy is showing unrealized gain 3000

December monthly strategy 

Added one lot future 

Total profit ( intraday and loss from hedges ) -5000

Total PnL  167000


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