NIFTY UPDATES 12813

IN TODAY'S SESSION NIFTY BROKE 5630 ON INTRADAY BASIS BUT FAILED TO SUSTAIN AT HIGHER LEVELS AND FINALLY CLOSED AT 5612 AND FORMED A DOJI CANLESTICK ON A DAILY CHART. AS PER OPTION DATA 5400 PE IS HAVING THE HIGHEST OI OF 70.7 LAC. OI AT 5500 PE IS ALMOST 60 LAC WHEREAS OI AT 5500 CE IS 23.17 LAC. OI AT 5600 CE IS 42.98 LAC WHEREAS AT 5600 PE IS 41.76 LAC. 5700 CE IS HAVING OI OF 48.47 LAC WHILE 5700 PE IS HAVING OI OF 42.86 LAC WITH ADDITION OF 3.42 IN OI. THE INTERESTING FACTOR IS THAT 5700 PE IS HAVING HIGHER OI THAN 5600 PE. VIX CLOSED IN GREEN AT 21.28 MARK. SO THE CONFUSION HERE IS AS TO WHETHER 5700 PE WITNESSED WRITING OR BUYING? HOWEVER WITH NIFTY CLOSING BELOW 5630 WITH FORMATION OF DOJI WE SENSE 5700 PE MUST HAVE WITNESSED BUYING. THE OTHER REASON TO SUPPORT THE VIEW IS THAT 5700 PE STRIKE IS IN THE MONEY AND WRITING NORMALLY IS NOT PREFERRED IN IN THE MONEY OPTIONS. IF IT IS VICE-VERSE i.e. WRITING IN 5700 PE MARKETS MAY MOVE BEYOND 5700. IN A NUTSHELL THE DATA IS CONFUSING BUT AT LEAST WE CAN CONCLUDE THAT EITHER SIDE A BIG MOVE IS ABOUT TO HAPPEN IN A DAY OR SO. SO TRADERS MUST BE VERY CAUTIOUS NOW.