1. From an options point of view, the bounce we got yesterday was a 'relief rally'. That was smartly used by 6300/6200/6100PE writers to cover their trapped positions. And call writers used opportunity to add more calls at 6100 & 6000. The overall bearish bias continues.
2. 6300 still the strong resistance with 90L calls. 6200 is the intermediate resistance with 65L calls vs 30L puts.
3. 6100 is now a 50-50 level (battle ground) with a slightly bearish bias due to almost 32L calls written there in last two days. 6000 is the strong support with 83L OI @6000PE
4. Some interesting moves at the extremes - 16L 6500CEs covered in last two days, 9.5L 6400CEs covered yesterday. The simple thinking is that call writers want to book profits but are they expecting a very strong counter attack? - No conclusions yet.
5. PCR has slightly gone up from 1.13 to 1.15 because of the higher level (6400/6500) call covering
Nifty Futures:
NOV: 2.5Cr O up 2.3% (5.6L added to OI) - some longs got added as cost of carry (premium) slightly went up
DEC: 28L OI up 10% (2.6L added to OI)
Banknifty Futures:
15.2L OI down 3.8% - BN OI is now down 11% from the point it reached 13300+
Monthly Charts
Posts
8 comments:
Value areas from Viren:
6112-6087-6077 in Nifty
12770-12715-12635 in Bank Nifty.
Thanks Girish!
GD, I talked to RKG person this evening at length on the no. given by you -she will send the documents to me soon - should I continue with Karvy also? How is ODIN (I've never used it)? Is their support fine? Money transfer from trading a/c to bank account is fine?
9 Rs. per lot will be great man - today, I took 37 trades in NF :-)
Janak,
I have been with them for almost 1 year and I used ODIN only for few months and found it pretty good.
After joining full time job, I don't have access to Java based platform from my workplace. So I am relying on web based trading platform - which is not very reliable but works 95% of the time. When there's any issue I call and place my trades. They have been pretty good in responding to my problems/queries.
I would say, you keep the Karvy acct active for about 3 months while you get used to RKG interface. If you like the RKG interface and get comfortable with it, out of your Karvy upfront paid brokerage plan and switch to a 0.025% brokerage plan with no upfront payment or no commitment of turnover.
I like the Karvy interface and sometimes their stock specfic calls are good. Currently I am using Karvy for cash market and RKG for futures. I have no complaints about either of them.
@ Janak,
Did you just say 37 trades today?
I told you, you are any broker's dream come true.
Man, If I get 2 more people like you, I'll honestly start a brokerage :)
GD, thanks a lot.
Viren, yes man - 37 trades.
I want you/shai to consider this brokerage thing VERY SERIOUSLY. If not starting brokerage yourself - you can surely bargain for a group - VT2. This you can use to market VT2 also.
Not only that, if you have such an arrangement in place - you can also handle "portfolios" - i.e. sometimes, if people may want you to take trades blindly when they are not around (i.e. for eg - i would say, viren take all those trades you take for my accounts as well - lot size would be 10) and you can manage that. You have been to the US so you know these kind of portfolio management is popular there. Having a common broker for the entire group will really help - however, this feature can be optinal giving freedom to people to go to other brokers.
Janak,
Suggestion taken.
I'll see if we can do something to bring a less than 1 paise rate for our group.
Actually, I would have been more happier with an auto-trade alert for our calls, if any of the brokers could set it up. Obviously we still have some time to go :( .
Missed NSE today, but watching US action now.
1184 is the ref level in ES futures. On the lower side 1162 maybe today.At 1180 now.
Looks like that market wants to drop to 1147 or 1129.
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