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Paper trades/Trade #22
TRADE DECISION AUDIT

VWAP + EMA Pullback – Option Selling

Nifty 50 · NIFTY 23250 CE 03 NOV 26 · 2026-11-03 · WEEKLY · 1 trading sessions to expiry

CLOSED SELL · SHORT · CE
Entry premium₹70.85Simulated bid − slippage
Stop / target₹81.50 / ₹57.50Initial plan
Maximum favourable16.09%Observed favourable executable-side excursion
Maximum adverse-21.45%Observed adverse executable-side excursion

Why the strategy entered

Bearish EMA trend, futures price below session VWAP, and confirmed pullback rejection.

trending
EMA 923,257.719
EMA 2123,278.275
EMA 9 slope-0.042
EMA 21 slope-0.043
EMA spread0.088
RSI 1438.524
ATR 1425.576
ATR %0.110
ADX 1430.917
+DI 1413.674
−DI 1429.434

Exact strategy entry-rule checks

DirectionConditionRecorded result
Bullish signal / Sell PESpot Close Above Ema21Not met
Bullish signal / Sell PEEma9 Above Ema21Not met
Bullish signal / Sell PEFutures Close Above Session VwapNot met
Bullish signal / Sell PEPrevious Low Touched Previous Ema9Passed
Bullish signal / Sell PECurrent Close Above Previous HighNot met
Bullish signal / Sell PECurrent Candle BullishNot met
Bearish signal / Sell CESpot Close Below Ema21Passed
Bearish signal / Sell CEEma9 Below Ema21Passed
Bearish signal / Sell CEFutures Close Below Session VwapPassed
Bearish signal / Sell CEPrevious High Touched Previous Ema9Passed
Bearish signal / Sell CECurrent Close Below Previous LowPassed
Bearish signal / Sell CECurrent Candle BearishPassed

Additional market-context checks

CheckObserved valueMeaning
Ema AlignmentbearishEMA 9 versus EMA 21 alignment
Price Vs Ema21belowSpot close relative to EMA 21
Futures VwapbelowFront futures close relative to same-session futures VWAP
Rsi MomentumbearishRSI 14 momentum zone
Adx Trend StrengthstrongADX 14 trend strength; direction is not implied by ADX
Relative Volumebelow_averageAligned front-month futures candle volume versus prior same-session futures average
Candle DirectionbearishSignal candle body direction

Option contract and execution quality

Strike/Greeks come from the option-chain snapshot; execution price, timestamps and depth come from Upstox Full Market Quotes V3.

Strike23,250.000
Expiry2026-11-03
Expiry seriesWEEKLY
Expiry classification sourceupstox_weekly_flag
Calendar DTE1.000
Trading-session DTE1.000
Expiry weekdayTuesday
Signal weekdayMonday
Entry weekdayMonday
Expiry week flag1.000
Expiry day flag0.000
One session before expiry1.000
Two sessions before expiry0.000
LTP71.150
Best bid71.050
Best ask71.250
Spread %0.281
Quote sourceUpstox Full Market Quotes V3
Quote response time (IST)2026-11-02 13:31:03
Last trade time (IST)2026-11-02 13:31:03
Quote response age (sec)0.000
Last trade age (sec)0.000
Top-5 bid depth12,545.000
Top-5 ask depth26,260.000
Max allowed quote age (sec)120.000
Max allowed spread (%)5.000
Delta0.483
Theta-34.416
Gamma0.002
Vega5.045
IV14.770
Volume299,124,540.000
Open interest12,125,815.000
Previous OI3,288,350.000
Best bid quantity1,170.000
Best ask quantity2,795.000
PCR0.806
POP33.510
Strike distance (points)11.050
Strike distance (%)0.048
Estimated risk750.770
Entry IV14.770
Exit IV14.650
IV change-0.120
Entry delta0.483
Exit delta0.545
Delta change0.062
Theta change-0.065
Gamma change0.00010
Vega change-0.095

Exit and trade outcome

stop loss

Exit price₹86.30
Exit IV14.650
Exit spread0.29%
Exit quote age0 sec
Gross P&L−₹1,004.25
Estimated charges₹58.66
Net P&L−₹1,062.91
Quote observations45
Last mark₹86.05

MAE/MFE use the position-side executable quote (bid for BUY accounts, ask for SELL accounts) captured by the minute-level worker. They may not include intraminute extremes or every executable market price.

Full Market Quotes V3 audit trail

Exchange quote response time, last-trade time and top-five market depth snapshots used for simulated entries, marks and exits.

PhaseRequested atQuote response (exact)Last tradeQuote ageBest bidBest askBid depthAsk depthDepth VWAP
exit2026-11-02 14:16:032026-11-02T14:16:03.677+05:302026-11-02 14:16:020 sec₹85.80₹86.0511,57022,555₹86.05
mark2026-11-02 14:16:032026-11-02T14:16:03.677+05:302026-11-02 14:16:020 sec₹85.80₹86.0511,57022,555₹86.05
mark2026-11-02 14:15:042026-11-02T14:15:04.437+05:302026-11-02 14:15:030 sec₹79.90₹80.1520,99514,235₹80.15
mark2026-11-02 14:14:032026-11-02T14:14:03.55+05:302026-11-02 14:14:030 sec₹79.35₹79.5523,14022,555₹79.55
mark2026-11-02 14:13:032026-11-02T14:13:03.466+05:302026-11-02 14:13:020 sec₹77.35₹77.5516,57515,275₹77.55
mark2026-11-02 14:12:032026-11-02T14:12:03.378+05:302026-11-02 14:12:030 sec₹77.85₹78.1014,69019,630₹78.10
mark2026-11-02 14:11:032026-11-02T14:11:03.9+05:302026-11-02 14:11:030 sec₹78.10₹78.2015,08019,500₹78.20
mark2026-11-02 14:10:042026-11-02T14:10:04.745+05:302026-11-02 14:10:040 sec₹79.30₹79.5016,83516,965₹79.50
mark2026-11-02 14:09:032026-11-02T14:09:03.078+05:302026-11-02 14:09:020 sec₹74.50₹74.7514,95022,425₹74.75
mark2026-11-02 14:08:032026-11-02T14:08:03.126+05:302026-11-02 14:08:020 sec₹72.80₹73.0016,96515,600₹73.00
mark2026-11-02 14:07:032026-11-02T14:07:03.925+05:302026-11-02 14:07:030 sec₹78.00₹78.1516,70514,755₹78.15
mark2026-11-02 14:06:022026-11-02T14:06:03.03+05:302026-11-02 14:06:020 sec₹80.40₹80.6026,45516,185₹80.60
mark2026-11-02 14:05:042026-11-02T14:05:04.342+05:302026-11-02 14:05:030 sec₹77.60₹77.8522,62022,490₹77.85
mark2026-11-02 14:04:032026-11-02T14:04:03.286+05:302026-11-02 14:04:020 sec₹73.35₹73.5514,30023,920₹73.55
mark2026-11-02 14:03:032026-11-02T14:03:03.43+05:302026-11-02 14:03:030 sec₹71.95₹72.1514,95014,885₹72.15
mark2026-11-02 14:02:032026-11-02T14:02:03.43+05:302026-11-02 14:02:030 sec₹73.10₹73.3025,67522,230₹73.30
mark2026-11-02 14:01:032026-11-02T14:01:03.733+05:302026-11-02 14:01:030 sec₹74.55₹74.7510,66016,770₹74.75
mark2026-11-02 14:00:032026-11-02T14:00:03.673+05:302026-11-02 14:00:030 sec₹73.35₹73.5516,05517,745₹73.55
mark2026-11-02 13:59:032026-11-02T13:59:03.496+05:302026-11-02 13:59:030 sec₹75.80₹76.0012,80520,475₹76.00
mark2026-11-02 13:58:032026-11-02T13:58:03.366+05:302026-11-02 13:58:030 sec₹77.35₹77.6012,02515,795₹77.60
mark2026-11-02 13:57:022026-11-02T13:57:03.019+05:302026-11-02 13:57:020 sec₹71.10₹71.2516,31513,455₹71.25
mark2026-11-02 13:56:032026-11-02T13:56:03.188+05:302026-11-02 13:56:020 sec₹68.80₹69.0016,70518,460₹69.00
mark2026-11-02 13:55:032026-11-02T13:55:03.886+05:302026-11-02 13:55:030 sec₹67.00₹67.2024,44016,640₹67.20
mark2026-11-02 13:54:032026-11-02T13:54:03.247+05:302026-11-02 13:54:020 sec₹71.60₹71.7524,3759,230₹71.75
mark2026-11-02 13:53:032026-11-02T13:53:03.389+05:302026-11-02 13:53:020 sec₹70.65₹70.9017,94014,820₹70.90
mark2026-11-02 13:52:032026-11-02T13:52:03.37+05:302026-11-02 13:52:020 sec₹71.00₹71.2014,69018,655₹71.20
mark2026-11-02 13:51:032026-11-02T13:51:03.219+05:302026-11-02 13:51:020 sec₹67.10₹67.3018,65520,020₹67.30
mark2026-11-02 13:50:042026-11-02T13:50:04.123+05:302026-11-02 13:50:030 sec₹64.10₹64.3068,90025,480₹64.30
mark2026-11-02 13:49:032026-11-02T13:49:03.114+05:302026-11-02 13:49:020 sec₹67.60₹67.8018,65515,535₹67.80
mark2026-11-02 13:48:032026-11-02T13:48:03.058+05:302026-11-02 13:48:020 sec₹71.35₹71.5518,85015,535₹71.55
mark2026-11-02 13:47:032026-11-02T13:47:03.419+05:302026-11-02 13:47:020 sec₹71.25₹71.4022,1009,555₹71.40
mark2026-11-02 13:46:032026-11-02T13:46:03.393+05:302026-11-02 13:46:030 sec₹73.30₹73.5015,01520,020₹73.50
mark2026-11-02 13:45:032026-11-02T13:45:03.375+05:302026-11-02 13:45:020 sec₹71.45₹71.5015,34014,560₹71.50
mark2026-11-02 13:44:032026-11-02T13:44:03.166+05:302026-11-02 13:44:020 sec₹70.45₹70.502,99023,075₹70.50
mark2026-11-02 13:43:032026-11-02T13:43:03.847+05:302026-11-02 13:43:030 sec₹68.35₹68.5513,00010,205₹68.55
mark2026-11-02 13:42:042026-11-02T13:42:04.095+05:302026-11-02 13:42:030 sec₹66.05₹66.2519,50015,795₹66.25
mark2026-11-02 13:41:032026-11-02T13:41:03.901+05:302026-11-02 13:41:030 sec₹63.45₹63.6512,41527,755₹63.65
mark2026-11-02 13:40:042026-11-02T13:40:04.449+05:302026-11-02 13:40:030 sec₹59.25₹59.4520,21515,145₹59.45
mark2026-11-02 13:39:032026-11-02T13:39:03.832+05:302026-11-02 13:39:030 sec₹61.65₹61.8020,41029,315₹61.80
mark2026-11-02 13:38:032026-11-02T13:38:03.379+05:302026-11-02 13:38:030 sec₹63.40₹63.5522,88025,025₹63.55
mark2026-11-02 13:37:032026-11-02T13:37:03.956+05:302026-11-02 13:37:030 sec₹67.30₹67.5019,76018,395₹67.50
mark2026-11-02 13:36:032026-11-02T13:36:03.372+05:302026-11-02 13:36:030 sec₹67.40₹67.4512,4804,615₹67.45
mark2026-11-02 13:35:032026-11-02T13:35:03.827+05:302026-11-02 13:35:030 sec₹66.65₹66.8511,96015,665₹66.85
mark2026-11-02 13:34:032026-11-02T13:34:03.592+05:302026-11-02 13:34:030 sec₹66.95₹67.1015,40513,195₹67.10
mark2026-11-02 13:33:032026-11-02T13:33:03.531+05:302026-11-02 13:33:030 sec₹65.50₹65.6512,74011,765₹65.65
mark2026-11-02 13:32:032026-11-02T13:32:03.74+05:302026-11-02 13:32:030 sec₹73.80₹73.8525,935910₹73.85
entry2026-11-02 13:31:032026-11-02T13:31:03.323+05:302026-11-02 13:31:030 sec₹71.05₹71.2512,54526,260₹71.05

Top-five depth VWAP is a paper fill estimate based on displayed exchange quantities at the time of the snapshot. It cannot guarantee actual execution, queue priority or protection against cancellations and rapid market changes.