Options/futures data for 15th Sep (EOD)

Quick Summary:

1. Options data has "TOO MUCH BULLISHNESS" written all over it. Will too much turn out to be too bad? Only time will tell

2.Call writers at 5500-5600-5700 are still covering and there's no respite. Only 5800CE writers are daring not to cover today. Lets see if they are proved right or crucified tomorrow.

3. Put writing just continues @5900/5800. But interesting there is reluctance to write puts at 5700 - because if there there a fast fall the 5700PEs will gain very fast.

4. The last but the most dangerous one -- PCR has hit 1.79 now! Typically Nifty tends to reverse direction - even if its a temporary reversal --when PCR hits 1.8+ So we are not too far from there. Two such instances of reversal on account of "OVERDOSE Of BULLISHNESS" were -- around June expiry (Intraday 5370+ and reversed) and a few days back around August expiry (Intraday 5540+ hit and reversed)

Nifty futures:

SEP: 3.87Cr OI up 3.6%

OCT: 36L OI up 6.6%

Banknifty Futures:

27L OI flat