July 4/25
Global Dow closed +217 points (0.8%) yesterday. Was mostly negative but ran 1 hour before close. Asian markets are mixed. Dow Futures are flat to negative. DAX, FTSE also similar. SGX is in red with 35 odd points. Option chain 10400 CE had OI increase of 10L but on the contrary, there wasn't as much PE writing. Instead, there was unwinding on the PE side at 10,100 levels by -8L. This is very weird to me. ATM strike premium net is 206. So 100096 to 10508 Nifty Bank is even more confusing in the Option chain. Nifty Bank PCR is 0.69 for this expiry. We should not rule out a short-covering rally. FnO Data The biggest number is call shorts by Pro. Second is put short by Clients with other positions as mixed. Signifying flat opening with either side mildly. FIIs covered their future shorts and added a few longs. Maybe they are interested in just playing the range? Charts & technicals On the daily timeframe, Nifty made a higher high, higher low. But came off the opening highs. Nifty 2...