Summary:
1. With market making strong move above 6000, the action at 6000CE/PE was similar to action at 5900 a few days back. 6000PEs added 20L to OI and hence 6000 now becomes the support. Lets see if this level holds for expiry.
2. Calls covered across the board from 5800-6000. Only at 6100 very few calls were written. May be the fear of a Monday gap up. As of now 6100 is the resistance with 62L calls vs 20L puts.
3. Put covered started at 5900 now. Its been the feature of this market. As soon as the market takes one stop higher, lower levels puts start covering right away.
4. PCR is now at 1.93! Even though we have had very high PCR for last few days, the market has given only intra corrections of 70-90 points. But with PCR so high, a serious rise from here is not possible pre-expiry.
Nifty Futures:
SEP: 3.1Cr - OI down 6% (19.5L shares cut)
OCT: 1Cr - OI up 26% (21L shares added) -- First time in several days we had good rollovers.
Banknifty Futures:
SEP: 18.6L OI down 12% (2.5L shares cut) -- Banknifty OI is down 50% now from peak. Some rolled over to SEP but still a good amount was profit booking.
OCT: 5.9L OI up 32% (1.25L shares added)
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3 comments:
GD, there were some very confident calls from u today in futures - BEML, Jindal saw, VideoIND - pl. do keep sharing such sureshot winners - the kind of hardwork u r doing in studying the futures movement - I am more and more inclined to jump blindly on your calls reg. futures - Shai,Viren, You, Sanjay.....amazing team you people are - thanks friends.
For the uninformed, GD is our very own Girish Desai !
( wonder who coined the acronym for you).
Cheers Mate.
Cheers to Sanjay too. Exide still rocks!!
New post.
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