It is March 2026 series and we started with a bearish mood

On 24th Feb, when the previous series monthly options expired, Nifty closed with a strong bearish candle at 25424. Around closing, the MHAF chart was clearly indicating a breakdown (pic below), and the spreadsheet was showing a sell trigger below 25488.

Accordingly, following the teachings in the book, March futures were shorted at 25580, and March 25300 Puts were shorted at a premium of 278. The breakeven point to the upside stood away comfortably at 25854.

If we didn't use the options selling strategy and instead went for the futures only strategy, then the stop loss would have been at around 25657 for the next trading session as shown in the spreadsheet. Next day on 25th Mar, Nifty went very close to the SL point with a high printed at 25652.6 but did not close above 25657, hence we can say we would have stayed in the short trade. As per the table above, the stop loss should be around 25550. This scenario is hypothetical because we actually took the position based on the combined F&O strategy as mentioned above. The actual position status is given below.

Now our job is to patiently wait for the upside BE point to reach at 25854 where we will reverse the direction in the futures, create a covered call position while keeping the current 25300 short put option alive.