Summary:
1. The options table for today is pretty simple. The range suggested is 5800-6000 for expiry.
2. 6000 is the resistance with 78L OI @6000CEs vs 42L OI @6000PE. 5800 is the support with 63L OI @5800PE
3. 5900 is a 50-50 level where bulls and bears will fight it out today for expiry
4. PCR has dipped even more from 1.01 to 0.97
Nifty Futures:
1.2Cr OI down 19% (29L shares cut)
2.0Cr OI up 32% (48L shares added) -- Again 100% rollovers and some more OI addition. May be the dip buyers?
Banknifty Futures:
6.5L OI down 16% (1.3L shares cut)
12.6L OI up 42% (3.5L shares added) -- 100% rollover and some new OI added
Posts
8 comments:
Hi Girish,
Thanks for the views,
gonna be an interesting day
with the no no non news
&
us mkt greens
:)
Moh - agree it will interesting to see where it gets to. May be the 5900CEs will be tested today.
Dear Girish, Shai--Can we take this as 80% rule and expect 5987 today??
bizagra - Expiry day, we try to trade light and 80% rule may not work out because there will be wild moves based on option writers positions.
So on expiry day, better trade light and may be 50% of your normal positions is what Shai has been saying for sometime. And I totally agree with that suggestion.
Thanks Girish.
Dec charts posted.
hey girish,
now we know what happened :D
you made a very good post!
Mo K,
I was away for a couple of meetings but having traded in few stocks around/on expiry day in the past, I can tell one thing - Even if this market seems to have bottomed out, the lows made today in NOV expiry (5791 and 11612) may very well be revisited in DEC series.
So far May 2010 correction has been only one correction that had bottomed out before expiry. Rest of the corrections (Jun 2009/Ocr 2009/Jan 2009) have all bottomed out in the first one or two weeks of the next series. Lets see how this one works out.
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