Options/futures data for 13th Oct (EOD)

Before getting into options analysis there are two things I want to say:
1. It makes a big difference when trading alongside extremely experienced folks rather than when you are trading on your own -- On my own I would have missed the entire rally of yesterday and would have tried to short a few times on the way. And how much difference did it make to my account? +23k in Banknifty and still holding 2 lots, +11k in BHARTIARTL & +5k in TULIP  -- That's more than 1 year's worth of subscription cost of Vtrender Live made in 1 day. Need I say anymore? Note that BHARTIARTL & TULIP were not calls given by Shai/Viren but its 100% a result of education that these guys have imparted upon us in the last 2 months or so. It goes without saying that Vtrender Live is not just any SMS service that gives calls, its a an excellent "Educational Platform". And Education goes a long way than money made.


2. There are two statements that struck me from last 2 months action. Shai's statement when the market was correcting, Shai's OCT 7th report here said "This level of 6085-6090 may even turn out to be an excellent 'buy the dip' level. Below 6045, this uptrend may be over for the short term." and Viren's statement in his post about trend day here -- "No target is too big for a trend day". They can come only from folks who have seen markets for a long time.

Summary:

1. Two words for yesterday's action "Mind blowing". The way 6200CEs were covered and 6200PEs/6300PEs were written, there was no stopping the bulls.

2. Right now I am not able to figure out a "RESISTANCE" for this market. The field is just open -- both 6300CE/6400CE are not big enough to hold this market. We need just wait and watch.

3. 6200PEs added 36L to OI - and that becomes the immediate support with reasonable support at 6100 & strong support at 6000

4. PCR has gone up to 1.39 - still long way to go before topping out

Nifty Futures:

28.7L OI up 10%!!!! Finally the Open Interest increased. As of now looks bullish with longs getting added.

Banknifty Futures:

14.9L OI down 4% -- Banknifty is still suffering from OI deficiency. Lets wait and see what happens in next few days.