Options/futures data for 2nd Nov (EOD)

(Some issue with OI chart/Google gadgets .. not able to post it today)

Summary:

1. Options script is becoming very predictable. 

Step1: Start adding puts even before a level is reached

Step2: Add more puts once that level is crossed by 30 or 40 points

Step3: If that level is entirely taken out then start covering calls

2. Steps 1 to 3 have been religiously followed for 5800/5900. For 6000 only step 3 is remaining and that too will happen if 6080-6120 is crossed

3. 5800 is still the strong support and 6000 the resistance but weakened  because of the Step2 (massive put addition) action yesterday. 5900 has now changed to intermediate support

4. OK here comes the thought for the day: All these days the market has just followed the Steps 1-3 religiously. None of the put writers @6000/5900/5800 were tested - even during intraday. Is that test coming before we head higher?

5. PCR now 1.24 - still in the same almost neutral range of 1.2-1.3

Nifty Futures:

2.7Cr OI up 3% (8L shares added) - 22L shares have been added from Monday and OI is up 8% from Friday's closing. Looks to be longs.

Banknifty Futures:

12.4L OI down 7% (1L shares cut from OI) - BN OI is down 13% after positive OI was added on Monday. So mostly rise on short covering