Summary:
1. Close to 90L OI at 5400PE provides good support for this market. Although I remember in May we had something like 74L OI at 5200 on the very first day of series but still Market fell to 4800. The way the market makers made the fall was by adding calls at 5200/5100 gradually and FIIs had bought huge amount of lower level (5000/4900/4800 ...) puts.
2. 5400CEs too added 12L on Friday! That's not good at all.
Nifty futures:
3.2Cr OI up 2%
Banknifty Futures:
24L OI up 0.84%
The only way scepticism in the market goes away is if 5510 is reached in a couple of days. 5465 & 5485-5490 will still provide resistance.
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