uTrade Algos

Chakravyuh Ka Tod Bank Nifty

Also Known as Chakravyuh Ka Tod Bank Nifty in uTrade Originals, this strategy trades in Bank Nifty weekly options. This is an intraday option selling strategy which sells both Call & Put options. This strategy is fully based on ‘Open Interest’. It keeps changing positions based on changes in ‘Open Interest’.

Note: – Trading in this strategy should be avoided on an event day

Factor : OI (Open Interest) Based Strategy Nifty 

Margin required: Rs. 130,000 for 1x multiplier

Start Time: 10:00 AM

End Time: 3:05 PM 

Execution Days: All Days 

Preferable Days: All Days

Favorable Conditions:

  • Fall in Volatility 
  • Range Bound movements
  •  Recommended VIX : 12 to 30

Risk Factors:

  • High Volatility in market with increasing premiums 
  • No decay in premiums

Default Parameters:

  • Logs: 0,1
  • Net Loss: 1200
  • Net Profit: 1200
  • Option Type: Sell Call, Sell Put
  • Order Fill Price: 7
  • Order Lot: 1
  • Order Lot slice: 20
  • Premium Price: NA
  • Premium Range: NA
  • Stop Loss for each leg: NA
  • Strike Depth: 5 ITM, ATM 25 OTM
  • Strike Diff: NA
  • Symbol: BANK NIFTY
  • Time Interval (sec): 60