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High Probable HDFC Bank Strategy - Expiry 28st January 2021 - Closed with -10% ROI

 Last edited on Saturday 28th January 2021


  • Nifty cloased at 14281.3 
  • Nifty current future closed at 14251.65
  • SGX Nifty current futures at 14304.5
  • Banknifty closed at 31811.75
  • Banknifty current futures closed at 31701.2
  • HDFC Bankc closed at 1480
  • Put Call Ratio (PCR) of Banknifty is 0.58 and it is bearish.
  • Put Call Ratio (PCR) of HDFC Bank is 0.64 and it is bearish.
  • Max pain of Banknifty is at 3200, it is bearish.
  • Max pain of HDFC Bank is at 1440, it is bearish.
  • INDIAVIX is at 24.3950
  • Union Budget is on 1st February 2021 because of that market is volatile.

Based on the above data we can say HDFC Bank is bearish and market is volatile. However it can turn into bulish as the quaterly results of HDFC Bank is good. 1440 acts as good support and 1550 may be a good resistance. Our strategies are based on this support and resistance.

Current expiry is on 28st January 2021.

Our view is Neutral.

Option Prices may change while you place the trades. Place trades after 9:45 AM. Adjustments will be provided if needed. Capital may required more if adjustments are made. Recomend to deploy only 50% of the capital.
  • All the strategies are deployed on 18th January 2021

Strategy - Chicken Iron Condor

  • Sell 1400 PE x 1 Lot 28st Jan Expiry
  • Sell 1420 PE x 1 Lot 28st Jan Expiry
  • Buy 1360 PE x 1 Lot 28st Jan Expiry
  • Buy 1340 PE x 1 Lot 28st Jan Expiry
  • Sell 1560 CE x 1 Lot 28st Jan Expiry
  • Sell 1540 CE x 1 Lot 28st Jan Expiry
  • Buy 1600 CE x 1 Lot 28st Jan Expiry
  • Buy 1620 CE x 1 Lot 28st Jan Expiry
Return On Investment (ROI) will be 7.3% based on expiry. Capital required is 1.84 Lakhs but hightly recomend to keep at least 2.25 Lakhs.
Pros - Probability of profit is more. 
Cons - Vega is negative so won't handle volatility (IV increase) of the market.
  • 19th January 2021
  • 20th January 2021
  • 21st January 2021
  • 25th January 2021
Book the profits here. Only risk takers hold on to the trade.
  • 26th January 2021
Its breaching the call side, beter to come out from the strategy by booking the profits. As expiry is tomorrow and we are in profits we won't do any adjustments. If you are a risk taker then hold on, if there is a short covering tomorrow then exit at that time.
28th January 2021
Exited with Rs 19866 Loss. Which is around 10% Loss on Investment. This is because of Gap Down of  Banknifty. There were plenty of opportunities to exit the trade. I have mentioned 2 days back to exit with 11742 Profit, One day back mentioned to exit with 6462 Profit. Only risk takers hold the trades and its loss. Its a part of the business.

If you like my blog, let me know in the comments and I will post more this kind of blogs

Thanks and Regards,
Techie VISH 😉. 

Check out my Nifty strategy here and Banknifty strategy here.
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