Summary:
1. Writing of 6200CEs continues at a decent pace - almost 9L added to OI in last 2 days - making 6200 the immediate resistance.
2. Inspite of 4L puts covered yesterday, 6000 is the strong support with almost 80L of OI. Also about 9L 6100PEs were written in last two days & 6L 6200PEs written yesterday.
3. Market in some ways seems to know what's coming the next day. On Friday 6300CEs were covered and we got a gap up on Monday. Yesterday almost 4L 6000PEs were covered and from action @SGX Nifty, it looks like we are going to get a gap down today
4. PCR is 1.3 - unchanged from its Friday levels.
Nifty Futures:
2.6Cr - OI down 1.5% (4L shares cut from OI)
Banknifty futures:
16L - OI up 0.85% - Still Banknifty OI is way less compared to its August/Sep levels.
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