Options/futures data for 19th Jan (EOD)

Summary:

1. While the market kept pushing up above 5700, it seemed like it was on borrowed time and Europe opening blew the air off the balloon.

2. 5800 is still a weak resistance but the difference between puts and calls is slowly widening to almost 30L making it almost a decent resistance. I would still have liked to see more than 70L calls @5800 to declare it a strong resistance.

3. 5700 is still a 50-50 level

4. 5600 is the strong support. May be today the 5600PE writers' courage and pockets will be tested

5. PCR making new 6 month low of 0.88 but like September series when PCR kept on pushing the limits on upside, this market also seems to be adamantly pushing the limits on downside. In markets as someone has said - stocks take the escalator route up and express elevator route down!!

Nifty Futures:

Jan: 2.17Cr OI up 1% (22L shares added)

Feb: 25.8L  OI up 26% (5.4L shares added) -- Next month seeing good OI build up

Banknifty Futures:

Jan: 12L OI down 2% -- OI is now down 65% compared to its peak in August and more than 50% down compared to its September breakout point! For me the simple rule is "Open Interest is equal to Trading Interest".