Wednesday, December 15, 2010

Options/futures data for 14th Dec (EOD)


Summary:
1. Options table shows that bulls making decent effort to move Nifty higher. So far bulls seem to have made the right moves - put addition at 5700-6000, call covering at 5800/5900.
2. 6000 is the 'Wall of resistance' now with 82L calls vs 41L puts. If that's taken out, as of now it looks like there's actually less work needed at 6100/6200. 
3. 5900 is still a 50-50 level with positive bias.
4. 5800 is the strong support. There are still 12L calls remaining out of 23L calls added last Thursday. As of now my guess is that they are covered calls but bulls would hope for those calls to be covered soon.
5. PCR has now jumped to 1.24 because of more put writing at 5800-6000 than call addition at 6000-6200 & also due to calls getting covered at 5800/5900


Nifty Futures:
2.5Cr OI up 0.4%


Banknifty Futures:
12.4L OI up 1.8%  - After short covering for previous 3 sessions, finally some sign of longs? Only follow up rise above 11700-11800+ with more OI addition will confirm this.


One interesting chart:
As the saying goes 'a picture is worth a thousand words', will let this chart do all the speaking..



1 comments:

r m said...

Thanks Girish! Excellent analysis as always. :)