Summary:
1. Options table is now at a point that its now looking too bullish. That’s where one has to be cautious.
2. 5600 is the current resistance
3. 5500 is a 50-50 level with equal puts and calls
4. 5400 is the strong support. Yesterday 17L 5300PEs were added. Someone buying?
5. PCR up 1.22 from 1.17
Nifty Futures:
2.57Cr OI up 0.5% – still no sign of big OI cut. OI is up almost 25% from the first day of series.
Banknifty futures:
10.9L OI up 6% – Almost 1.8L of OI has been added in last 2 days! I presume these are longs but only a good move with volumes above 11280-11440 will confirm.
