Options/futures data for 7th Jan (EOD)

Summary:

1. Only one word to describe what happened on Friday - 'massacre'. The sum o Calls added @5800/5900/6000/6100/6200 was a full 1.1Crores!! I checked twice if I had done some error in looking at EOD data or addition. But nope - it all adds up right.

2. 6200 is now the 'forget it' level - with 1.0Cr OI in the very first week of a series. When did we last see 1.0Cr in first week of a series at any strike? No prizes for guessing it right - it was the big breakout from 5450-5550 in early September. Here's the link to the post. What followed was a 600 point gain in Nifty. Would this be a 600+ pointer on the downside? Only time will tell, besides 300 points is already done!

3. 6100 is now the clear resistance.

4. 6000 is a 50-50 level from options point of view. Need to see how the put writers can bring a technical bounce.

5. 5900 is the current support but the amount of call addition at that level was scary. Puts are adding only @5800

6. PCR has gone down from 1.24 to 1.03 - that must be the fastest reduction that I have seen in last 3-4 months

Nifty Futures:

2.04Cr OI up 2.7% (5.3L shares added) -- Must be shorts. If Nifty follows what Banknifty did, then the Nov 26th low is not to be counted as something that will hold.

Banknifty Futures:

14.7L OI down 0.6% -- Not much unwinding of shorts. May be longs are hopeful about of 11040-11050 (Dec 2nd week low) holding.