Elliot's Impulse waves.(Part-5)
IMPULSE WAVES :- The Basics Waves that move the market in the direction of its main trend either up or down are called Impulse waves. 1....
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5010-5039 supply zone proved a ST resistance. 5002 proved a break down point. 4945 to 4982 proved a corrective rise, monitored with an ... -
Will not be available to intra update . Suggest one of our readers to update on DHEma-HHEma-HCEma & HLEma for possible support points fo...
3 comments:
Good tussle going on between Bulls N Bears.
Out of total Jan NF 97.50 Lac O.I. 60 lac O.I. is rolled over between 6010 & 6090.
Out of total 30.30lac Jan 6000 PE O.I.,7.60 Puts were written today.
Deletion of 4.5 lac O.I.in 6100 Dec.CE
@Mynac;Can i understand the information provided by you as follows?
1)Out of total 30.30lac Jan 6000 PE O.I.,7.60 Puts were written today:implies that In Jan the bears will have upper hand as writting put is synonimous to buying a call?
2)Deletion of 4.5 lac O.I.in 6100 Dec.CE:implies that calls written earlier are squared off today again meaning that in Jan the writers see higher levels and that is the reason nifty was experiencing a consistent selling so that the CE could be bought back at lower level?
Dear Bhavan,
Today most of the trading Hrs Nifty was trading around 6000 & closed below 6000,but from addition it looks that the 6000 Jan PE writers(i.e. Bulls)have full faith in their capacity,that they can or likely to lift Nifty from current level above 6000,so only they could dare to write this kind of quantity which is good with compare to intraday movement & turn over.
When Nifty is trading around 6000,and just 2 trading days left for expiry there is no need to cover those calls above 5 Rs,if Nifty is not going towards 6100 but though the quantity is very small,the short covering indicates the indecisive Bear attitude.
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