The markets have now closed for the weekend, and will now open only after the results for the State assemblies are fully declared.
The bulls and bears have gone home with positions they are comfortable with. A peep into the PCR at various strike prices of Nifty gives an idea of what is likely to happen on Monday.
The PCR at 6200 has risen sharply to 1.96 suggesting that recent lows will be held by bulls even if the election results are not upto expectations (lower than 4 - 0 to the BJP).
One positive sign for the bears to look forward to is the PCR at 6300, which is only 0.44 as of now.
In case of a gap up on Monday, this ratio will come into play, and if there is no huge surge in OI of 6300 PE along with crash in OI of 6300 CE, bears will feel comfortable to go short.
Thus, in case of a gap down on Monday, keep an eye on OI of 6200 CE and PE, and in case of a gap up, on OI of 6300 CE and PE.
However, if PCR at 6300 keeps rising, Miss Nifty might start flying in BLUE SKY territory ( all time highs). The current data however, does not suggest that.
The bulls and bears have gone home with positions they are comfortable with. A peep into the PCR at various strike prices of Nifty gives an idea of what is likely to happen on Monday.
The PCR at 6200 has risen sharply to 1.96 suggesting that recent lows will be held by bulls even if the election results are not upto expectations (lower than 4 - 0 to the BJP).
One positive sign for the bears to look forward to is the PCR at 6300, which is only 0.44 as of now.
In case of a gap up on Monday, this ratio will come into play, and if there is no huge surge in OI of 6300 PE along with crash in OI of 6300 CE, bears will feel comfortable to go short.
Thus, in case of a gap down on Monday, keep an eye on OI of 6200 CE and PE, and in case of a gap up, on OI of 6300 CE and PE.
However, if PCR at 6300 keeps rising, Miss Nifty might start flying in BLUE SKY territory ( all time highs). The current data however, does not suggest that.
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