iCharts Discussions

[yashrahul]

Note:huge open interest accumulation seen in 5900 put and 5850 put..along with that high open interest accumulation seen in 5800 put..today's bouce back from lower levels ate into the premium of these puts really badly....bulls will be happy today as the reverse from lower levels would have made them a little cheerful...after 10 to 15 gloomy days..some reversal from oversold levels was always on the cards ....till how many days it lasts remains to be seen..one request to the bulls please don't start the talk of 6800-7000 all over again...first 5800 then ????

[yashrahul]

Note:Nothing much to add except that 5950-5970 has held again..till it doesn't close above 6150 NS the bears are safe...waiting for this 5950-5970 band to break soon ...

[yashrahul]

Note:5800 put even though the markets are up some 10-15 points still is very close to yesterday's price..conviction on the market going down is more compared to markets going up is what can be said is the reason


Bounceback..reversal from lows...some upside from oversold territory... bla bla bla...today at one time in the afternoon it felt as if 5950 will be broken very easily but asian markets being supportive and european markets opening in the green saved the bulls for the day...bulls trying everything possible to keep the markets above 5950-5970...remember this february expiry is comparatively smaller as compared to january and other months...hence if you are in options... trade with time decay in mind...

waiting for this 5950-5970 band to break soon

[yashrahul]

Note:Options data shows that both calls and puts are losing money under the name of sideways movement....consolidation....reversal from oversold levels ...bla bla bla...

huge additions in oi in many of the puts and calls...any clear direction is difficult to predict......i mention again that february series is comparatively a very small series...for institutions and FIIs writing calls and puts and managing them with nifty as long as volatility remains normal is relatively easy... hence trade with caution

[yashrahul]

Note:Options data today points to 6100 call being written for sure and 6000 put i presume might be bought...downside to resume soon....till the time 6100 call is being written the bears are safe for this series..any huge cut in oi of 6100 call when the nifty is close to 6100 will indicate the breakout of that level...either 6100 or 6000 on the nifty will break soon....chances of 6000 breaking soon are many times more than 6100 breaking...still anything can happen in the markets....best luck

[yashrahul]

Note:6100 still acting as resistance but unfortunately 5950-5970 still acting as support...call writing seen in 6100 call...highest oi in 6000 put...either a big breakout or big breakdown coming soon..till then genuine option buyers will keep losing premium like today..best luck

[yashrahul]

Note:early signs of 6100 put being written...markets are breaking on the upside i presume...

i might be wrong

[yashrahul]

[yashrahul]

Note:6000 and 6100 call has cut oi and highest oi still at 6000 put...waiting for breakout or breakdown...

[yashrahul]

Note:Huge addition of oi in 6000 call and highest oi in 6000 put...which side will it break 6150 or 5950.....I might be wrong but all I can say is 6150 looks far now and 5950 looks near...isn't it

[vinay28]

attached is a chart of 6000pe showing volume. IMHO, high volume bars in the morning and afternoon show short covering and buying while middle 3 hr period shows writing. It is supported by the fact that today's volume was >4 lacs while change in OI was >6 lacs accompanied by increase in price.

So, it is possible that 5970 may not hold, But 5950? not sure. May be first 2 hours tmrw will tell.

[yashrahul]

[yashrahul]

Note:Short covering rally...end of the week upmove...technical bounce back from oversold levels...bla bla bla....in my words loss of premium of genuine put buyers...otherwise also breaking of close to 1 crore oi at 6000 put was never going to be easy

One more attempt by the bears to break 5950 and close below it failed...once more bulls have won...now if bears can defend 6100 and not allow the bulls to close above it...till either happens we are stuck in a range and the genuine call/put buyer premium goes bust

[yashrahul]

Note:6000 is defended again by the bulls and huge oi built up in 6000 put has saved the bulls once again...now again the same zone of NS 5950 to 6150 ...we will keep on bouncing between these two levels till their is a decisive breakout .... once again the premiums of genuine call/put buyers has gone bust in this month due to sideways and in a range movement of the markets...hope we get a decisive breakout soon and next month at least the range gets broken....will it get broken this month itself i really doubt but anything can happen in the markets...

[amitagg]