Option data highest ever

Option data shows that FIIs Outstanding position in Nifty option alone is Rs.50, 924crs while total Option Outstanding position is Rs.89,549 crs and futures position is Rs.56, 418crs which clearly indicate that majority have built position in option as market has been range bound for than 8months now, sooner than latter major move can upset the market calculation as many traders and investor have built strategy in this. PCR above 1.50 indicates excess positions in Puts and if crucial support levels get broken panic selling can be high. Distribution below shows 5300 would be crucial resistance, failure to move past that can bring selling once again into markets and 5000 can act as strong support as per derivative data below which panic up to 4800 and lower also can be seen.