Today has been an opposite of the recent days. We were getting gap down opening, and moved up in the recent days - today we gapped up and moved down today. Again, a high turnover day. Here is my notes.
1. FII have bought 58K contracts today. However, there is no change in the OI at all. I am assuming they closed shorts to that effect.
2. PCR has reduced a bit to 1.16. VIX is still at a very high value of 30. So, I am expecting volatility to come down in the next few days.
3. Nifty Future has shed huge OI today. Around 10L contracts reduction in OI. I assume it is profit booking by shorts.
4. FII have huge open positions in Options - a lot of option writing happened. As expected the other day, we may move around here with some volatility on both sides to reduce the time premium of options. I will not be surprised even if we spend the entire series in the region of 5000-5240. ( 5233 to be precise - where we have a failed auction, and might make a visit there before this weekend.)
You can view the entire data sheet here.
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2 comments:
good analysis Kris. thanks :)
5233 will be gapped over by Friday morning IMO.
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