Many times Option Table analysis gives an indication where the smart money is moving.
It was clear yesterday from option table analysis that lot of PUTs are being added and downside is temporarily cemented. This view was supported by candle stick pattern and NIFTY went up.
See addition of PUTs today from 7900 to 8200. It will be extremely impossible for NIFTY to see any meaningful correction unless there is very adverse news from Scotland/EU.
Unwinding of CALLs from 7800-8100 making very clear that Bulls taking back seat. Resistance (though minor due to lot of unwinding) still at 8200.
If NIFTY goes near 8200 before close of the day around 3 PM, sell NIFTY 8000 CALL, it could be trading at around 225-240 by then.
FIIs did not buy in cash segment in their usual huge quantity (in fact they were net sellers though marginal) in spite of spectacular rally today. A lot of buying in Future and Option by them, and they must be hedging their bets. And if this is the case NIFTY might correct till 8000 before expiry.
Disclaimer: This blog does not take any responsibility of your profit/loss
It was clear yesterday from option table analysis that lot of PUTs are being added and downside is temporarily cemented. This view was supported by candle stick pattern and NIFTY went up.
Unwinding of CALLs from 7800-8100 making very clear that Bulls taking back seat. Resistance (though minor due to lot of unwinding) still at 8200.
If NIFTY goes near 8200 before close of the day around 3 PM, sell NIFTY 8000 CALL, it could be trading at around 225-240 by then.
Disclaimer: This blog does not take any responsibility of your profit/loss
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