Options/futures data for 30th Jul (EOD)

Top 5 traded options data courtesy - http://www.stocksfortune.com/FOReport

Rest of data manually queried from NSE website.

1. From the Options OI GIF its clear that - current resistance is 5500 with 64L OI and 5300 support with 75L OI

2. What's bad is the shameless addition of 8L to 12L Calls at 5600/5500/5400 on the very first day of the series. Bad boys seem to be very eager to write those calls.

3. For last 2 series bulls have been pampered a lot and they seem to have forgotten what puts mean and why OI increase for lower level puts is bad.

Here are some observations on increase in OI of lower puts:

i) 5100PE - 50% OI increase in last 2 days -- total OI now 52L (This was 48L on Friday after June expiry with Nifty @ 5269 - well below current level)

ii) 5000PE - 35% OI increase in last 2 days -- total OI now 49L (This was 52L on Friday after June expiry)

iii) 4900PE - 71% OI increase in last 2 days -- total OI now 26L (This was 27L on Friday after June expiry)

Conclusion: Options activity as of now is 'slightly bearish' with "EAGERNESS" displayed by call writers @5600/5500/5400 and put buyers @5100/5000/4900.

Sometimes these can be fake moves but can't just ignore it as a 'wolf cry'.

Futures data:

=========

Nifty: 2.77Cr OI up 6% (15L shares added to OI)

Banknifty: 27.5L OI up 1% ( 0.3L added to OI)

Top 3 Banknifty components--

1. SBIN - OI up 20% in on Friday (OI up 50% from its July lows) -- currently @52-wk high

2. HDFCBANK - OI up 7% on Friday (OI up 50% from its July lows) -- currently @52-wk high

3. ICICIBANK - OI up 4% on Friday (OI uo 33% from July lows) -- will react to results posted on Saturday

Banknifty looks 'optically strong' at the moment but but big OI at 52-wk high can cause vertical drop if a serious correction starts.