NIFTY HAS FORMED HANGING MAN CANDLESTICK PATTERN ON A DAILY CHART. HOWEVER VIX FELL VERY SHARPLY AND CLOSED BELOW 16 MARK AND PCR HAS INCREASED. 5900 CE IS HAVING HIGHEST OI OF 80.45 LAC. 5800 CE WITNESSED LIQUIDATION OF 8.82 LAC AND TOTAL OI AT 5800 PE IS 61.65 LAC WITH ADDITION OF 5.10 LAC. OI AT 5900 PE IS 15.37 LAC. SO AS PER THE OPTION CHAIN IMMEDIATE RANGE OF NIFTY SEEMS TO BE 5800-5900. HOWEVER IN VIEW OF THE SHARP FELL IN VIX AND SUDDEN SPURT IN PCR INDICATES EXTREME BULLISHNESS. THERE IS A PROBABILITY THAT NIFTY MIGHT CLOSE ABOVE 5900.
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