1. Expiry did happen at 6100 - which I honestly think very few believed on the first day of the Nov series when we had a visit to 5750 or below! So in markets its often 'expect the unexpected and one gets rewarded to think differently than the entire crowd'.
2. First day of series might probably not give the true picture of options so just mentioning what's seen in the options table. 6000 seems to be the current support with 50L put OI
3. 6100 as of now is a 50-50 level
4. 6200 can be considered resistance
5. PCR is at 1.37 as per Sharekhan.com but calculations from raw numbers gives me 1.56 -- will confirm in the weekend
Nifty Futures:
1.9Cr OI up 37% (51L shares added) -- The series starts off with almost 20% lower OI than what Nov series started off with (about 2.5Cr).
Banknifty Futures:
13.9L OI up 12% (1.48L shares added) - The series starts off with almost the same OI as what Nov series started off with (about 14.1L)
Nifty monthly chart and some thoughts:
This is a 4 month chart of Nifty futures where we can see that there has been a confluence of monthly VAH/POCs 6090-6126 (well give another 20-25 points for inaccuracies in data feed and MP parameters calculation). So before getting carried away about double bottom @5750, be extremely watchful about that seller in the 6090-6126 range (make it 6080-6150)
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6 comments:
Thanks Girish!
Very good analysis of monthly profiles.
Good morning GIRISH,
Thanks for posting analysis of monthly profiles.
wishing u all a very happy new year.
Yep - 2011 is almost here and Wish you all a Very Happy New Year.
May all of our trading and personal goals be reached in the coming year.
Party hard tonight but don't drink and drive because its like trading without stop losses - LOL! once a trader always a trader :)
Wish you a happy new year Guys !
Enjoy your evening and start with a clean slate !
Hi Friends!
Wishing you all a Very Happy and Prosperous New Year.
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