Inference
Nifty opened weak below 6100 level and went lower with each passing hour to close near the lows of the day at 5999.05, a huge loss of 123.85 points. The broader market was also very weak, with just 417 advances to 947 declines. Best resistance at 6300 level.
Buy Nifty 6000CE above 92 for targets of 119, 147 SL - 87
Buy Nifty 6100PE above 111 for targets of 136, 163 SL - 95
India VIX : 21.14 up by 0.31 points
Call OI : 38440200
Put OI : 31668600
PCR OI : 0.824
SMR : 25.66 (Bearish: Nifty saw huge liquidation for the second day in a row to close below 6000, with only positive for the Bulls, 6000PE writers holding on and SMR at 25.66...)
Nifty opened weak below 6100 level and went lower with each passing hour to close near the lows of the day at 5999.05, a huge loss of 123.85 points. The broader market was also very weak, with just 417 advances to 947 declines. Best resistance at 6300 level.
- Call option 6000-6200 added 49.25 lacs huge amount of OI with profit booking seen at 6400 and above strike prices.
- Put option 6000-5900, 5700 added 18.16 lacs huge amount of OI with short covering seen at 6100 and above strike prices.
- Nifty Open Interest is at 1,52,62,550 down by 13,86,050, with decrease in price, most probably huge long liquidation.
- Bank Nifty Open Interest is at 18,09,800 up by 1,12,125, with decrease in price, most probably huge short build-up.
- FII’s sold huge 19.62 lacs Futures, mostly short build-up, as their net OI increased by 2086 contracts (includes 90348 longs and 129582 shorts for the day) and the average price per contract comes to around 5953.91.
- FII’s future open contract as on date is 491323.
- PCR Open Interest (Volume) is at the lowest point of the series at 0.824.
- Initial and best support at 6000, with huge OI of 57.40 lacs and below that at 5900 with OI of 44.64 lacs.
- Initial resistance now at 6100, with OI of 50.53 lacs and above that at 6200, with huge OI of 55.00 lacs.
- Day Range as per Option Table is 5953 - 6087 and as per VIX is 5933 - 6065 with 6027 as the Pivot.
Buy Nifty 6000CE above 92 for targets of 119, 147 SL - 87
Buy Nifty 6100PE above 111 for targets of 136, 163 SL - 95
India VIX : 21.14 up by 0.31 points
Call OI : 38440200
Put OI : 31668600
PCR OI : 0.824
SMR : 25.66 (Bearish: Nifty saw huge liquidation for the second day in a row to close below 6000, with only positive for the Bulls, 6000PE writers holding on and SMR at 25.66...)
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