Options/futures data for 18th Oct (EOD)

Before starting to get into options analysis, take a couple of minutes to look at what Viren posted here about a mind blowing Vtrender Order Flow System for capturing most of the points from intraday swings.

Summary:

1. As pointed out yesterday, the market did make its way up due to the trapped 6200PE/6300PEs. On the way up, these put writers opportunistically covered (10L from 6300PE/7L from 6200PE)  the puts - which to me is not a good sign for uptrend because this rise seems to be due to short covering only.

2. Here comes the next set of thorns for the bulls - On Friday there were 24L 6100CEs were written and despite the rise in Nifty Futures above the 6130, these call writers are not covering and they have added another 5L yesterday! And what's even more worse is the addition of 9.6L of 6000CEs. These are aggressive call writers betting that the rise yesterday was just due to short covering and Nifty may not sustain higher levels.

3. 6200 is the resistance for this market with 67L of OI. The big worry for bulls is trend of writing lower level calls esp 6100CE & it may halt this rise well below 6200

4. 6000 is the support with 83L of OI. And puts are consistently getting added at 5900/5800 - aggressive players looking for a further down move

5. PCR has dipped marginally from 1.28 to 1.26

Nifty Futures:

2.75Cr OI up 2.7% -- marginal but at least some OI increase in last two days.

Banknifty Futures: 

14L OI down 4.7% -- No sign of any OI addition in BN -- Just comapre this with almost 35L OI during Aug series and 29L OI in Sep series.