Summary:
1. 6200 remains the resitance for expiry with 75L OI @6200CE. Interestingly 6200PEs added almost 7L (Is this suggesting a possible move up?)
2. 6100 remains a balanced level with 56L calls and 51L puts. Expiry now seems to be dependent on who is stronger of the two - 6100CE writers or 6100PE writers.
3. 6000CEs covering massively indicates an expiry definitely higher than 6000 (may be 6100 and higher?)
3. 6000 remains a strong support for the market till expiry with 80L OI @6000PE
4. PCR has gone slightly up from 1.20 to 1.23
Nifty Futures:
OCT: 2.2Cr OI down 8.6% (21L shares cut)
NOV: 84L OI up 81% (38L shares added) -- First time significantly high rollovers to Nov series
Banknifty Futures:
OCT: 11.4L OI down 19% (2.7L shares cut)
NOV: 4.5L OI up 83% (2L shares added)
Monthly Charts of Nifty/Banknifty:
First time in more than a week Nifty managed to cross monthly VWAP, but was not able to hold above it as selling started in the second half of the trading session.
Amazingly both indices are now very close to Monthly POCs (where VWAP also seems to be converging)
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5 comments:
Thanks Girish!
RM's smiling face makes any of my posts look good :)
Value areas
NF : 6158-6136-6127
BNF : 12600-12572-12517
To be rad as VAH-POC-VAL.
http://economictimes.indiatimes.com/markets/stocks/market-news/Indias-catching-up-with-Asian-peers-in-algorithm-trade/articleshow/6812512.cms
Dear Girish, if NF again goes above 6127, can we apply 80% rule??Plz explain
yes Bizagara,
It's 6130 NF not 6127.
Safer long is abv 6140.
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