1. Options data has turned bullish for past 3 days with 5400PEs adding 33L to OI. 5400 becomes strong support with 80L puts vs 45L calls
2. Call writing @5500 has reduced but the total of 77L means it wont be easy task to conquer 5500.
3. Interestingly, 12L puts are written @5500 in last 2 days. Addition of higher level puts is surely bullish.
Any rise above 5500 without Options OI support will not be sustainable.
Nifty futures:
OI 3.12Cr up 3% -- 10L Shares added
Banknifty futures:
29L OI down 4% -- Some profit booking there.
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