*** Price above 50& 200 DEMA
*** Closed in green with increase in Price, Volume, Traded Value, Delivery% when entire market RED.
*** RSI above 50.
*** MACD above zero.
# ATM CE position built up... Strong resistance
# ATM PE position built up... Strong support.
# Far OTM position built up on call side...Strong bullish
# Far OTM CE position built up... Strong bearish....
I couldn't find it so simple.
Mostly, what I learned is this presumption is a very easy way to misguide the masses by using the option chain.
On many occasions I have taken absolutely opposite stand and got good hit ratio.
Apart from the position built up, if one pays attention to futures position, traded value in cash and delivery% along with the traded value at the each strike price of respective option, this may give much stronger insight of bias, since, bigger money at stake.
Stock come into radar on 17 Apr 20. with its increase in traded value, traded volume and above average delivery % in last one week. Also, noticed the ratio of number of trade and total traded quantity is high..... Seems big players are interested in this.
With this set basic set up further peep into the charts and option chain gave some important observations:
1. Stock is in consolidation since last expiry. 2. When CMP was around 1300. Unusual activity seen on far OTM PE. 3. On 1160 PE highest unwinding is observed.... GADBAD