Summary:
1. 6100CE writing has slowed down but nonetheless quite a bit is written in last 3 days. So call writers seeing 6100 as a reasonable top for this market - for now!
2. Action at 6000 is yesterday was very interesting. Both bulls and bears are actively trying to claim it. 11L 6000CEs added and 10L 6000PEs added. If market stagnates around here - both could be right. I doubt though.
3. With 91L puts vs 39L calls - 5900 is an extremely strong support as of now
4. Suspicious action at 5800PEs continues. Only next week I can declare it as profit booking because ATR is so high that if market cracks - we can get to 5800 in 2 sessions. Is that why nobody wants to write 5800PEs?
5. PCR today? 1.92!!! - Then only time PCR went 2.0+ was in Jan 2008. Next two trading sessions will tell us whether PCR is an important metric or not.
Nifty Futures:
SEP: 3.46Cr OI down 6% (22L shares cut) -- last 2 days OI shed 12%. Take profits before they are gone!!
OCT: 70L OI up 12% (7.8L shares added) -- So only 1/3rd rolled over, rest all - profit booked!
Banknifty Futures:
SEP: 22L OI down 2% -- OI is now down 18% from its breakout point.
OCT: 3.6L OI up 27% -- Not all of the OI cut from OCT was rolled over. So longs not coming at these levels - yet.
Posts
3 comments:
Someone asked me this question yesterday - was selling in first half more aggressive than buying in second half.
Can you answer that question?
HINT - Look at VWAP :)
You bet the selling was aggressive.
We had range extension below VAL which was a first in many sessions !!
The statistic pointed to a 90 point cut before the buyers pulled it back in the last session
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New Post.
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Viren,
I forgot to say that Viren/Shai should not answer :)
Still - you are SPOT ON!
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