July 14/25
Global Dow closed +500 points (2.5%) yesterday. HongKong, China markets are down. Dow Futures are positive by 200 points. DAX, FTSE are positive by 0.5% or so. SGX is in green with 70 odd points. Option chain There was massive PE unwinding on 10600 strikes and above. But interestingly, also on 10300 and some strikes below... There was writing on 10600CE and strikes above. Massive 22L writing on 10700 CE. ATM strike is 10600. The net premium is 162.4. So the range is 10437.6 to 10762.4 Similar to this was Nifty Bank. It had writing on 21500 CE and unwinding on 21500 PE and all strikes above. Net premium for 21500 is 621 premium. 20879 to 22121. PCR is extremely low in Nifty Bank at 0.48 FnO Data FIIs have added huge short positions in 20k Index Fut. The data is extremely bearish. Charts & technicals On the daily timeframe, Nifty has support of 20DMA at 10472 Nifty Bank has although broken support of 20 DMA yesterday which is at 21785. 50 DMA is at 20373. Plan for today With tom...