1. Not much change the expiry range based on Options table. Its still 5900-6100 with notable action @6100CE - 20L added in last 2 days. Either its speculative call buying or 6000CE writers buying hedges, just in case Santa comes out to spoil their Christmas.
2. 6000 is still a resistance until another 15-20L calls cover.
3. 5900 is now all set to be a support for expiry.
4. Notable action @5800CE/5900CE - covering in these two options consistently for last 4-5 sessions suggests that the call writers have given up hopes of a lower expiry.
5. PCR up slightly from 1.32 to 1.34 - and leaves no hopes for bears for any sort of crash before expiry.
Nifty Futures:
Dec 2010: 2.3Cr OI down 4% (10L shares cut)
Jan 2011: 46L OI up 36% (12L shares added) - 20% additional rollovers
Banknifty Futures:
Dec 2010: 13L OI down 1%
Jan 2011: 2.5L OI up 200% (1.72L shares added) - What the hell happened there? That's the second largest (single day) OI addition in Banknifty seen in last 3 months. That too coming in an illiquid next month contract? It comes with a 40 point premium. Some one suddenly bullish about Indian banks or were they just hedges? Whatever it is - those of us who love to trade Banknifty should be very happy to see such development!
What happened to RELIANCE and GAIL?
RELIANCE tanked with some more OI reduction. To me it looks like shorts are exiting in Dec futures as the rollovers are less to January and the cost of carry is higher in Jan futures.
GAIL - I am still looking for a bright green 52-wk high candle before the expiry. Long in cash from yesterday @509
Posts
6 comments:
Thanks Girish!
Just a thought for Santa - If you reward both PE and CE writers by doing nothing than Option buyers will stop believing in you and would use socks only for the purpose they were made. :)
RM - it looks like Santa might listen today.
I am myself thinking about:
1. 6000CEs
2. RELIANCE 1060 or 1080 CA
3. GAIL fut
4. Banknifty longs
...
LOL Big shopping list in the hope for Santa's arrival today :)
gd..hi..
check this too
http://wealthinnifty.blogspot.com/2010/12/bn-displaying-ascending-triangle-at-its.html
ur jan bn oi is a good update ..
hi rm..s viren/shai both on holiday..
urgent msg gd..
r u able 2 login skype?
Manu - some issue today with skype as its screwed up during auto upgrade.
I checked Ilango Sir's chart u posted. I am not very familiar with ascending triangle concept but I think it means that once the WALL @11670-11680 BNF is broken it could turn into a channel and probably target 12000??
From a directional point of view 11440 should absolutely hold for bulls to be hopeful of the move up. Below 11440 next stop could be 11360-11370 and below that its all over for bulls for this year!
Girish, I'll extend that ray of hope for the bulls to 11320 as that is the zone for the last initiative activity on the day of the Last Open Drive.
Post a Comment