I was happy in the morning as we had a gapup of 250 points on Bank Nifty. But in 15 minutes we were only 50 points up and near my cautious level of 29380. Once we breached that, I was pretty convinced that longs will not hold. Hence the decision to close the bullish positions immediately.
29700 was my selling point for calls. We turned back from 29600 something so I wrote -5X29700 CE and +1X29600 CE.
Bank Nifty did not fall with same momentum as of Nifty. So when Nifty was at 11250 approximately, I wrote -11350 CE, +11450 CE.
We touched 29200 on Bank Nifty and I was still hoping for 200 point fall, but we started bouncing. I wrote -5X28700 PE as I was expecting a sideways market.
Here is how my net positions looked in the end:
Here is the trade sheet: