Dear Trillian,
Yes, preferred time frames are 10:30 -10:45 AM, 12:30 and 3:00 PM, one can choose their own as well. Well hold your 4500PE with trailing SL=10% when in profit or book profit. If at 11:30 AM Nifty is up +25 then, buy call at S1 (4200) and hold with SL=30% from your buy price...