1. From options table what we can conclude is - Nifty status is back to where we it was on Thursday's closing and one can forget Friday's action as a 'bad dream'. Basically all of the options actions that happened on Friday were promptly reversed. Calls writtern @6000/5900/5800 covered and puts that got covered @5900/6000 were written back.
2. 6000 now becomes a 50-50 level with 50L calls vs 62L puts.
3. Nifty range suggested by options is 5900-6100, with 6100 the resistance and 5900 the strong support
4. PCR is also exactly back to Thursday's level of 1.05!
Nifty Futures:
NOV: 1.98Cr OI down 14% (35L shares cut from OI)
DEC: 0.9Cr OI up 69% (37L shares added) -- Again like Friday more than 100% rollover but not as large as Friday.
Banknifty Futures:
NOV: 11L OI down 23% (3L shares cut) -- OI is now down from 17L at its peak in Nov, 28-35L in September!
DEC: 3.9L OI up 100% (2L shares added)
Want to end this post with two Nifty charts:
1. Monthly Volume Profile charts show -- Nifty seems to have a liking for 6000 for expiry. Sep expiry close to 6030 and Oct expiry close to 5990. No conclusions, but just an observation that one expiry happened close to POC and the next one at VAL
2. Action on Oct22nd/21st: What what we saw Friday/yesterday was very similar to what we saw on 20th/21st Oct - will we see a repeat of 22nd Oct action today? (Here's the link for Viren's post on 22nd Oct http://www.vtrender.com/2010/10/vol-profile-charts-for-22nd-oct.html)
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1 comments:
Thanks Girish!
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