Options/futures data for 21st Jan (EOD)

Summary:
1. Options table is still in the 'state of flux' and the best data to substantiate that claim is that OI of 5700CEs is higher than OI of 5800CEs. The puts are covering on lower levels and calls are not adding massively on higher levels. It looks like only a break of the 5628-5745 or 5770 (NF) would give some meaningful direction to the markets.
2. 5800, as described above is a resistance but not enough calls in OI to call it a big resistance.
3. 5700 is a 50-50 level with negative bias because of Friday's action of call addition and put covering. But don't be surprised if a trend day emerges out of nowhere and takes the market up massively because sentiment is reasonably negative and Banknifty the leader is showing some strength.
4. 5600 is a strong support as of now
5. PCR dipped back to 0.89 from 0.91 -- but it hardly martters now given that its only just 3 days left for expiry.


Nifty Futures:
Jan: 2.14Cr OI up 3% (6L shares added)
Feb: 40.6L OI up 23% (7.8L shares added) - OI addition in both series. Some big move brewing?


Banknifty Futures:
Jan: 10.6L OI down 6.8% (0.78L shares cut) - Very good amount of short closure (almost 30% OI cut) seen in last few sessions in Banknifty and SBIN saw a 12% OI reduction last Friday. Still everyone seems to be cautious on Banknifty ahead of RBI meet on 25th Jan. Stocks typically like a 'wall of worry'. So will market feed off the negative view on Banks and stage a rally?


PS: From tomorrow (24th Jan), my professional career would be taking a different path where I may not be able to keep in touch with markets on a day to day basis. I still hope to associated with markets by analysing the Options/Futures data and EOD. If in case you don't see me posting options data regularly, please be considerate on this poor soul entangled in the tentacles of corporate world!