Summary:1. Well one thing is clear -- the expiry level will be now determined by what the the 5500CE writers will do in next couple of days. If more 5500CEs cover -- stronger expiry above 5500 (say 5560-5580).
2. The way puts are being added - its getting scarier now. "Too much is too bad" is the right one that comes to my mind. PCR (Put-Call-Ratio) has gone up to 1.72 yesterday. Once it reaches 1.8-2.0 range the market upside will be capped and one can look for reversal from there.
The last time we hit PCR of 1.8+ was on June 21st when Nifty reached 5370+ (futures) but promptly reversed the same day and 24th June expiry happened at 5320.
Nifty Futures:
AUG: 2.95Cr OI down 8% (26L shares cut from OI)
SEP: 1.05Cr OI up 45% (33L shares added to OI)
Is this one of the HIGHEST OI ever on Nifty? I will compare this to Jan 2008 OI by tomorrow
Banknifty Futures:
27L OI down 6.2% (1.8L shares cut from OI)
8L OI up 27% (1.7L shares added to OI)
For chartists - Banknifty had a double top with RSI divergence on 15-min chart yesterday.
Hi Girish,
ReplyDeleteWhere i can get live PCR data during trading time....
Thanks
Ganesh,
ReplyDeleteIntraday options data is inaccurate but you can still look at this site for intraday options:
http://www.nseindia.com/marketinfo/fo/optionKeys.jsp?symbol=NIFTY&instrument=-&date=-
It will not directly give PCR - you may have to use MS Excel to add the total OI on puts/calls and divide that to get PCR.
For EOD PCR you can use this link:
http://www.sharekhan.com/sskicmt/Upload/Research/DaringDerivatives.pdf