Summary:
1. Well the 5500PEs are under pressure for past two days. So far 26L have unwound in last two days. Its upto the rest of writers holding the 65L OI to defend Nifty.
2. 10L 5500CEs added today. Will there be a run on these guys tomorrow?
Monthly profile:
Nifty back below monthly VAH. If 5465-5450 range is defended tomorrow's expiry can be closer to 5500.
VWAP for entire month as of last Friday was 5445 (source Karvy newsletter). So 5431 and 5445 are very important levels for bulls.
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