New month - new mood!
Summary:1. As mentioned yesterday, not much unwinding of 5400PE despite a visit of 5350 was bullish. To top that today's blockbuster addition of 5400PE/5500PE makes it bullish - for now.
2. Still some amount of calls being written @5500/5600 and most noticeable one was 10L calls added at 5700. Shai mentioned in the trading room that the call writers have shifted from 5600/5500 to 5700 - which as of now looks bullish.
3. PCR of 1.41 still pretty high - implying longs are probably hedged.
Nifty Futures:
3.28Cr OI up 1.66%
Banknifty Futures:
23L OI down 1.8% -- more short covering
Top traded stock futures:
No guesses needed - RELIANCE OI down 2.5% - Short covering for sure
TATASTEEL - OI up 3.5% - Looks like longs addition
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