Global Dow closed -2.3% on Friday. Asian markets are in red. ~ -0.5% Dow Futures are positive (holding 25k level). DAX, FTSE are in red. SGX is in red by 50 odd points. Option chain 10500 has the highest OI at 25L. Near equivalent of 11000. The OI is not looking straight-forward to me. Put premiums decreased more but CE premiums didn't rise as much. 10300 PE-CE lost value by 40 points. My hunch is that -1 x 10300 PE and -2 x 10500 CE is a writing that's happening. This would give a range of 110 + 63.4*2 = 236.8 It's breakeven from 10040 to 10591 Unable to judge well for Nifty Bank FnO Data Pros, Clients have the biggest positions that are opposing. Pros have other bearish positions. Looking for a flat to negative opening. Charts & technicals On the weekly timeframe, Nifty made a dojo candle. A candle of indecision. Watch out for the low or high of it being taken out. Plan for today The upside is looking limited thus making me have a bearish hunch overall. Plus, risk-rew...
Global Dow closed +160 points yesterday. Asian markets are flat to positive. Dow Futures are flat to negative. DAX, FTSE also similar. SGX is in green with 40 odd points. Option chain There was unwinding on the PE options on all strikes below 10700. There was writing on CE options on all strikes above 10650. But there was some unwinding at 10600 CE. Max pain at 10700. Strike premium is 108. So the range is 10592 to 10808. Nifty Bank option chain is interesting. There wasn't unwinding on the PE side as much as like Nifty. It'll be interesting to watch. Closest strike with equal OI at 22500. 427 premium. The range is 22073 to 22927. FnO Data Flat to negative opening. But overall bullish bias since FIIs have added quite decent longs in index futures. Charts & technicals On the daily timeframe, Nifty seems to have broken out of the rising wedge and is closing above it. Nifty 200 DMA at 10886. Plan for today My idea is to buy on dips as close to 22000 as possible. Modiji speakin...
Global Dow closed -77 points (0.3%) yesterday. Was mostly flat the whole time. Dow Futures are flat to positive. Most Asian markets are flat to positive. HongKong markets are up 2.57%. SGX is in green with 73 odd points. Option chain There was call unwinding on 10400 and below strikes. Signifying short-covering. And, there was good writing of 16L, 13L on 10300 PE and 10400 PE strikes. These will act as very good support today. Yesterday, there was put OI increase of 2L each at 10450, 10500 also. And, some call unwinding at 10500. Only 30k. It can turn out to be an interesting expiry. ATM strike premium net is 114. So 10316 to 10544 On Nifty Bank, there was short-covering on 22000 CE but the bears defended 22000 yesterday as HDFCBank fell down sharply in the last 30 minutes. It's still a significant resistance with 5L OI. FnO Data The biggest number is put long by Clients. Second is put short by Pros with other positions as bullish. Signifying a flattish opening. FIIs covered their ...