Signal on the option's own chart · SELL · big winner · top 10% of 1,179 trades

20 Aug 20242 trading days to expiry

SELL ITM4 · 24,850 PE+₹4,720+₹4,820 before ₹100 costs
Entry9:35 SELL at 236.50 — the 9:30 candle closed below its own OR lowExit162.35 — 10:20 candle closed through the SMA 5 — out at 10:25
150.0200.0250.0300.0OR high 299.1OR low 237.4 · stop: close back aboveEntryExit9:1510:0011:0012:0013:0014:0015:0015:30
exit ruleout atwhySELL ITM4
no trail15:1515:15+₹3,124
SMA 510:25trail+₹4,720
SMA 1010:45trail+₹3,875
SMA 2011:00trail+₹2,819
half-candle15:1515:15+₹3,124
The signal, the stop and the trail are all read from this option's own candles — spot is not used. Strike fixed from spot at 9:15. Selling profits when the option falls.
Backtest data, 5-minute candles. Gold lines = 9:15–9:30 opening range; blue line = the trailing SMA. Entry at the next candle's open. A failed breakout exits at the close of the candle that fell back inside; other exits at the next open. Printed prices only. 1 lot = 65, ₹100 per trade.