Good Morning
Nifty & Midcaps created Bearish Bat Chart Pattern on daily Charts & Nifty Fut Created Bearish Bat + Bearish AB-CD. Global setup also not supported, So today's gap down will be very good for next up movement.
But we are still avoided the Index in our trade. So Focused on Stocks.
FII was a net buyers with 459 Crs. In Derivatives FII booked 2.2k Index Longs & 221 shorts, in stock futures booked 1k longs & added 3k shorts suggest that no fear at higher levels.
In options 1.2k call Long with 1.6k Put short & 6k Call Shorts with 4k Put Long.
Pros added 1.3k Index Long & covered 7k shorts but in options covered 17k call long with only 5k put wrtting and 11k put long with 23k call shorts suggest that upside is limited. And downside is not protected. So need watch OCA very carefully for new resistance build-up.
Our PVR call was given good moves.
Stay Low.