How do you trade Iron Condor on Bank NIfty? What is your system like do you use weekly or monthly expiry, how many days to expiry do you take the trade, how is your entry and exit decided ?
This standard concept feels secure on Nifty. BankNifty is a wild one.
Putting the hedge far out to start(makes for decent net premium), but not too far. It should be far but optimal, so that when you have to roll, you can do 2 sell :1 buy and narrow the hedge distance.
Avoid doing short IC on BankNifty. It is a wild animal. The movements are too swift and high. You may not get time to adjust unless you have some algo. Sometimes you will hit SL on both the sides. Better to do directional trading and ride the trend. Nifty is much more stable index and short IC will work here better with at least 60-70% win rate.