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@iChartsIndia Let's decode why you should use it too and how I help myself. I use these four features(primarily) ☑️ Option Chain ☑️ Total PE-CE Data ☑️ Option OI breakup ☑️ Strangle Charts(Combined Premium)
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@iChartsIndia 1/ Option Chain Option Chain data is reliable when the trading week begins(i.e Friday). Even, Monday's data is not very accurate as traders are still building their positions.
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@iChartsIndia I start giving emphasis to the build-up from Tuesday. Looking at this week's expiry data(i.e 23rd June 2022), We can observe Put writing at 15300, Call writing at 16000
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@iChartsIndia 15500 call unwinding has been massive; which is visible by the move on Tuesday(i.e 21st June 2022) Puts are still more pricey than calls, implying traders have been factoring a down move more than an up-move.
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@iChartsIndia 2/ Total PE-CE Data How I interpret this data and use it to my benefit. The difference indicates whether there is more put writing or more call writing. If (PE writing > CE writing) { Column Color : Green } Else { Column Color : Red }
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@iChartsIndia Future Price column color indicates whether the market is above VWAP/below VWAP.
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@iChartsIndia If the market is trading above VWAP, color is green. And if the market trades below VWAP, color is pink.
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@iChartsIndia Inference Signals: If VWAP = Green, Diff = Red : Conflicting Signal(Market can remain rangebound) If VWAP = Green, Diff = Green : Market is trending up and we can look for long trades If VWAP = Pink, Diff = Green : Conflicting Signal(Market can remain rangebound)
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@iChartsIndia If VWAP = Pink, Diff = Red : Market is trending down and we can look for short trades
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@iChartsIndia This helps in finding out the strike which is experiencing IV spike and one which is continuously making new lows. If you are trading non-directionally, only way to make money is if you are able to either avoid spikes/ get out with a minor injury.
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@iChartsIndia Non-Directional Trader's Nightmare Low premiums + Market trending down(accelerated move) + Spike in put premiums + Calls not decaying
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@iChartsIndia 4/ Strangle Charts Combined premium charts are of great use by just plotting VWAP and 20 EMA. If you trade non-directionally by shorting options, the chart should be trending down.
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@iChartsIndia There are many other amazing features. Will look to cover them sometime later. Am still exploring the tool. Thought of sharing it for the benefit of everyone.
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@iChartsIndia Read this thread by @AdityaTodmal on iCharts to know more about the platform. https://t.co/UL259fMIg3
8 Powerful Features of @iChartsIndia Option Data users should be using:🧵 Collaborated with @niki_poojary
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@iChartsIndia @AdityaTodmal For more such threads in future, follow me at @shivang_ran. Retweet the first tweet to spread it across. Feedback appreciated. Happy Trading. Until next time, bye 👋
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Announcement 📢 Registrations open for the new batch. DM if you have any doubts/want to ask something. Link : https://t.co/63FsbLX41e ..
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@shivang_ran @iChartsIndia Any video regarding this... Pls help bhai... Maina bhi 599 ka subcription liya ha... Par dont know how to see...
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@shivang_ran @iChartsIndia Bhai.... Ek question ha... Mujhe bhi yeh ichart ma OI AND ALL DEKHNA kaisa dekhna.. Woh sab sikhna ha....
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@shivang_ran @iChartsIndia What if someone don't want Option and Future charts, and want Stok charts and Index Chart.
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