Summary:
1. Despite the fall to 5350(SPOT) not much of 5400PEs were unwound. So 5400 put writers are providing the support below 5400.
2. Not much call addition at 5500/5600. Keeps the possibility of a pullback still open.
3. OTM (Out of Money) puts addition at 5200/5100 and lower levels is still cautioning that some traders are playing for a deeper correction from here.
4. PCR is still around 1.43. As mentioned before Nifty tends to top out when PCR crosses 1.8 - Two instances June 21st (around 5370) and recent top above 5500 just before Aug expiry.
Nifty Futures:
3.23Cr OI down 0.1%
Banknifty Futures:
23.8L OI down 2% - some evidence of short covering in Banknifty?
Turnover comparison between first few days of Aug/Sept series:
The total turnover was pretty high today- About 1.06 Lakh-Cr. Comparison between August Series and September series is shown in following GIF.
It looks like options turnover almost doubled compared to first few days of august series.In my past experience - increase in options transaction indicates much higher volatility is expected in this series.
Monthly chart of Nifty:
Nifty went below monthly value area and closed just inside the value area. Nifty trading well below monthly VWAP and its provided resistance on Monday.
Banknifty seems to be getting support around the monthly VWAP
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1 comments:
Script to watch today : AxisBank, ICICIBank, Infosys, Kotak Bank, Reliance, RelInfra, SBI, Tisco, TataMotors, Acc, Biocon
http://www.4shared.com/document/UQC0UCig/MySAR_A__Future_for_1st_Sept_.html
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