The day after Expiry saw Nifty opening flat to negative and selling off to the lows of the day around 5640 but late buying saw the index close at 5664.30 a loss of 41.00 points. On a week on week basis Nifty lost 19.95 points or 0.35%. The OI Table saw huge addition at 5700 and above CE levels and 5700 and below PE levels.
- Call option 5700-6100 added 28.54 lacs huge amount of OI with small liquidation seen at 5600 and lower strike prices.
- Put Option 5700-5200 added 45.63 lacs huge amount of OI with small liquidation seen at 5800 and above strike prices.
- Highest accumulation on Call option 5900 at 37.9 lacs & 6000 at 36.9 lacs whereas Put option 5600 at 40.6 lacs & 5700 at 35.9 lacs.
- Nifty Open Interest is at 1,79,84,500 down by 72,050 with decrease in price, most probably long liquidation.
- Bank Nifty Open Interest is at 10,22,000 up by 1,200 with decrease in price, most probably small short build-up.
- FII’s sold huge 6.47 lacs of Futures, most probably some long liquidation and some short build-up, as net OI also decreased by 2.58 lacs and their average price per contract comes to around 4965.
- FII’s future open contract as on date is 400910.
- PCR Open Interest (Volume) at start of series is just above 1.015.
- The best support still at 5600, with highest OI of 40.6 lacs.
- Resistance at 5800, got better with huge addition for the day at 6.59 lacs and above that at 5900 with OI of 37.9 lacs.
- Range as per Option Table is 5623 -5714 and as per VIX is 5622 - 5706 with 5685 as the Pivot.
Buy Nifty 5700CE above 95 for targets of 107, 122 SL - 89
Buy Nifty 5700PE above 94 for targets of 106, 120 SL - 89
India VIX : 14.21 up by 0.69 points
Call OI : 24486700
Put OI : 27193450
PCR OI : 1.111
SMR : 12.80 (Bearish to Neutral: The day after Expiry saw the index move lower, but the range deadlock has still not been resolved. Next week is news heavy so we may see a breakout or breakdown of the small range of 5630-5720, till then it’s a Option Writers paradise...)
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