Summary:
1. Not very big change in options front. The only highlight of yesterday was 11L puts covering at 5500. I still don't see it a big alarming factor until another 20-30L 5500PEs cover. Only if that happens Nifty might go down and expire lower.
2. 5500CE writers are not covering much so expiry at my previous expectation of 5480-5520 is still valid.
Nifty futures:
AUG: 2.4Cr OI down 18% (55L shares cut)
SEP: 1.67Cr OI up 58% (61L shares added) -- again evidence of strong rollovers for the last 3-4 days with premium for next series.
Banknifty futures:
AUG: 19L Oi down 28% (7.7L shares cut)
SEP: 15L OI up 86% (7L shares added) -- discount seen yesterday in rollovers for next series.
1. Not very big change in options front. The only highlight of yesterday was 11L puts covering at 5500. I still don't see it a big alarming factor until another 20-30L 5500PEs cover. Only if that happens Nifty might go down and expire lower.
2. 5500CE writers are not covering much so expiry at my previous expectation of 5480-5520 is still valid.
Nifty futures:
AUG: 2.4Cr OI down 18% (55L shares cut)
SEP: 1.67Cr OI up 58% (61L shares added) -- again evidence of strong rollovers for the last 3-4 days with premium for next series.
Banknifty futures:
AUG: 19L Oi down 28% (7.7L shares cut)
SEP: 15L OI up 86% (7L shares added) -- discount seen yesterday in rollovers for next series.
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