July 10/25
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...