@Rajiv2
Knowledge about stock market is as vast as graduation.
You will have many many questions. You will ask them. And then wait hours for somebody to answer.
Their is a faster and instant route.
Google & Zerodha Varsity
For eg. I just searched your own statement
https://www.google.com/search?q=When+to+sell+the+call+and+when+to+sell+the+put
See! No need to ask questions and wait for somebody to spoonfeed!
Means ,pe has more chances of profit than Ce?
Margin required to make a straddle(sell PE and CE of same strike) - roughly around 37k in intraday and 1.3 L for overnight, if you are on Zerodha, different brokers set different margin requirements.
Why would you think that?
PEs are costlier doesnât mean they have more chance of profit.
This is about IV, Vol skew and fear factor.
You will tire of asking but subject wont end. Better you complete whole of Varsity first!
Some very Interesting discussion going on here!
But Rajiv let me try and help you with your initial question about earning Rs.500 per day, what kind of capital are you talking about? and what is the level of risk you can take? These are the most important factors to be considered before answering whether this is realistic or not. @
Capital is of 50,000
So you are expecting 1% per day and there are approx 250 trading days in an year. So 250% returns. That is unrealistic (since you say you have to win 100% of times.)
Let me break that down a little bit. So you are expecting an average profit of 1% per day. While that sounds easy, in the long run you need to factor in losses and thereby drawdowns.
Let say you keep a risk reward of 1:2 and you finalize a trading plan that back test to a 70% winning accuracy. You now need to keep a target of Rs.910 per day with a risk or SL of Rs.455 per day to attain an annualized average of Rs.500 per day, which is almost 2% 
already. On this you need to add brokerage+charges of about Rs.50 per buy+sell irrespective of winning or losing. This is much higher if you are trading in futures. And if your risk reward or accuracy is lower, your targets will further go up and there is an inverse correlation between risk reward and winning accuracy - one goes up, the other goes down.
Most liquid stocks (on an average) move less than 1% within a day, hence you will have to trade on margin to gain 2% on capital, thereby further extending your risk exposure.
Consider this - the best run hedge funds and AIFs are reporting a CAGR of about 35% and theyâve got some seriously smart people there. Still Iâm not saying its impossible, but just unrealistic and really hard to do on a regular basis for the long haul.
Let me also say this, if you are looking for regular returns from the market, option writing is the prevailing trend. You will need to thoroughly learn option writing, observe market for a while , increase your capital to say 2 lakhs and try your luck.
And if you are determined to only buy options, learn how to spot a breakout, wait for it, make quick trades and get the hell out. The probability of option buyers busting their capital within an year is about 90% - be mindful.
Good luck and happy learning to you.
If I increase my capital to 2 lakh n suppose I sold the 1 call when market. Is bearish.
Suppose suddenly market goes bullish in such case how much loss is expect for selling one lot.
Nifty 11500 there was highest option writing for 8 october expiry. Now nifty went above option writing today 11700 so how much loss has happened?
Basically this Rajiv guy is âchallengingâ if you know what I mean!
Asked him at least 3-4 times to read varsity & use google.
Sunta hi nahi!!
Best to ignore his silly Qs from now onwards!!
Firstly, to short just one lot, you only need about 40k. I suggested 2L as a starting capital so that you can trade certain volume to make any meaningful returns.
In such cases, you will start loosing money once the premium crosses beyond the price at which you sold it, same like short-selling any regular stock. Such losses can mathematically be extended to infinity, but practically, when you lose more than 50% of your margin, Zerodha will square of your position. To know exact losses, you should look at the chart of the option strike that you were planning to write.
And buddy, for the kind of questions you are asking, you seriously need some basic education. Please read Module 5 Options Theory for Professional Trading. There are 24 chapters and it should answer most of your basic questions and you will start to see the point of your own questions. It shouldnât take more than a week to complete this module if you really put your mind to it. And the market isnât going anywhere, donât be in such a hurry to loose money. 
Best of luck!
I am also new to option trading. After researching âZerodha Varsityâ, I just began to use âSensibullâ with Rs.1 lakh capital. I will update my experience after few more trades!
Great! Learn what are Straddles and Strangles, and how they behave in different market conditions - if you havenât done that already.
Good luck and happy trading.