MOrning nearly 10 lakh COI in CE
NOw its in PE as 18lakh.....!!!!
till afternoon Total Change in OI
CE 1,613,800
PE 778,250
Now its
Total Change in OI
CE 327,400
PE 1,270,050
How to read this change???
To my point of view, since I was consciously looking at the Values, I noticed that in the morning it was indicating a STRONG BEAR. So may be SHORT positions were being created in the morning.
In the afternoon may be Longs were closed and the market went up.
If you see the Options Chain Carefully in the four quadrants, you will see that all four quadrants for the first time in this month are indicating bearishness.
Puts above 7800 : 4L - Positive value - Short build - Bearish
Puts Below 7800 : -5L - Square off - Negative value - Long unwind - Bearish
Calls Above - 7800 : 7.5L - Positive value - Short Build - Bearish
Calls Below - 7800 : -10L - square off - Negative value - Long Unwind - Bearish
And strike wise, 7700, 7600, indicating Bullishness
7800,7900, ... Bearishness.
So my view was that this pattern suggests that it is a Reversal. We will anyway get the confirmation tomorrow morning.