Options/futures data for 7th Dec (EOD)

Summary:

1. From an options point of view yesterday was a 'neurtal day' with no significant change in options configuration at any strike.

2. 6000 still remains 50-50 level with not much edge to either call writers or put writers. 6100 remains a strong resistance.

3. Intermediate support at 5900 is now strengthening and with 61L puts vs 34L calls, it can even be upgraded to reasonable support

4. PCR had slight dip from 1.22 to 1.21 

Nifty Futures:

2.65Cr OI down 3.6% (10L shares cut) -- After addition of about 26L from Nov 29th, first time some decent OI reduction is seen. My best guess is that longs from 5700-5800 levels booking profits. Need follow up action to validate this. 

Banknifty Futures:

13L OI flat -- Although volume traded yesterday was 1.5 times the volume traded on Monday (6th Dec), shorts from Monday have not unwound yet. VWAP from Monday's action is 12255 and I believe that shorts might not unwind unless Banknifty gets above 12255

Monthly Charts:

Monthly chart shows that Banknifty has a cluster of resistances at 12240-12250-12375