iCharts Discussions

yashrahul · Yellow Belt Joined: 29 Jun 2013 Posts: 512

Note:6100 put is being written and 6000 put is being written.....6150 NS is the level to watch out for on the upside on a closing basis...best luck.. angel

yashrahul · Yellow Belt Joined: 29 Jun 2013 Posts: 512

yashrahul · Yellow Belt Joined: 29 Jun 2013 Posts: 512

Note:6000 and 6100 put being written and close above 6150...bulls are trying to make a comeback..will they be able to sustain these levels will be known by weekly close on friday.. above 6150NS eventhough not at all convincing but still it is a close above 6150NS....if we get below 6050Ns as weekly close then this small upmove gets negated..so lets wait for friday's close...best luck angel

yashrahul · Yellow Belt Joined: 29 Jun 2013 Posts: 512

yashrahul · Yellow Belt Joined: 29 Jun 2013 Posts: 512

Note:6100 put has cut oi and even 6000 has started losing oi..breaking 6000 is going to be an herculean effort for this series...but the unfortunate thing is 6100 put has not appreciated much..in the morning when the market went down the put was appreciating nicely but during close even though the markets closed near the lowest point of the day still the 6100 put didn't appreciate as per expectations...may be the 6100 put writers are in wait and watch mode they are thinking that till expiry which is very close if the market fall can somehow be managed then the premium of close to 40 rs can easily be gulped...it looks unlikely but still i am thinking that if we open gap down 30 points on the nifty which is very well possible depending upon the US markets today night..some how keep the downward pressure going then these 6100 put writers will crack and 6000 will come very soon...my target of 5800 or lower will be achieved earlier

saumya12 · Brown Belt Joined: 21 Dec 2011 Posts: 1509

But

The US market has recovered very well.

yashrahul · Yellow Belt Joined: 29 Jun 2013 Posts: 512

yashrahul · Yellow Belt Joined: 29 Jun 2013 Posts: 512

Note:6100 put is written heavily today and available at 12-13 rs..so bulls are of the view that markets won't go below 6100 till expiry...weekly close above 6150 somehow justifies bulls stance but have we crossed 6150 convincingly is what remains to be seen...we have to convincingly close above 6150 for minimum 2 to 3 days which seems like an uphill task as of now...but even 6150 put is showing early signs of being written..if everything remains normal till expiry without nasty surprises then the bulls have started laying the foundation for a close at 6150 or above 6150...but if something nasty happens which seems unlikely then one can't say for sure at what level the expiry will be...as of now if the confidence of the bulls is taken into account then 6150 or above is the close for this expiry...but complacency is never a great idea in the markets...lets wait and watch.

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

yashrahul · Yellow Belt Joined: 29 Jun 2013 Posts: 512

Note:from 6000 the nifty base has shifted to 6100 with 2 days before expiry...6100 on the nifty looks difficult to break unless something unforeseen happens before expiry...early signs that even 6200 put is being written...bulls are trying to end the feb series on a strong note..

yashrahul · Yellow Belt Joined: 29 Jun 2013 Posts: 512

Note:In february series 5800 didn't come unfortunately and we bounced back from below 6000 levels..whenever we reach 6000 or below there is heavy put writing of 6000 and lower puts..some how index level of close to 6000 or above is consistently maintained

For the march series highest oi is at 6300 call and 6000 put as of now..so from now on the nifty 6000 put writers and the nifty 6300 call writers will try to maintain the markets within these two levels till one of the side cracks if absolutely impossible to maintain..lets wait and watch..

yashrahul · Yellow Belt Joined: 29 Jun 2013 Posts: 512

Note:Market is clearly at the upper band of the range and just as i had posted 2 days before expiry the highest oi was at 6000 put and 6300 call...now after expiry we can see addition of oi in most of the calls and puts of 6000-6400 range...

I still maintain negative bias and feel that 6350 will not be taken out in march..in a similar way 6000 is strong support for the past 6 months or so and once more it seems 6000 will be difficult to break in this series if nothing unforeseen happens ...as the time goes by and the march series goes on gathering momentum i will keep on posting my analysis of options data...best luck for march series...

angel

yashrahul · Yellow Belt Joined: 29 Jun 2013 Posts: 512

just saw the premiums for the may series..look for yourselves both the calls and puts are trading at unbelievable prices...for example 6100 put april is trading at 64 rs and 6100 may last trade is at 240 rs...generally the difference between two months call/put of same strikes is generally 30-50 rs and not 150-180 rs like it is in these months of may and april...owing to elections the big players are trying to take the premiums to such high levels that after the elections irrespective of the outcome both the call and put buyers won't gain much...they know that after the last election outcome of two circuits very few will have the courage to either write/short a call or a put.

yashrahul · Yellow Belt Joined: 29 Jun 2013 Posts: 512

6300 call was being written when the market was trying to go up in the morning and 6200 put was being bought..just like in the last month 6000 put was being written when the market was going down in a similar way 6300 call was being written when the market was trying to go up in the morning...i might be wrong....EOD options data will give us a clear picture.