On option front, maximum Put open interest witnessed at 11,000 followed by 10,500 strike, while maximum Call open interest was at 11,500 followed by 12,000 strike. Marginal Call writing was seen at 11,400 then 11,600 strike while Put writing was seen at 10,700 then 11,000 strike. … [Read more...] about Technical View: Nifty forms bearish candle, selling pressure likely if index breaks 11,250
Nse nifty
‘Can initiate Bull Call Spread in weekly expiry as Bank Nifty may see moderate up move’
A fresh call writing was seen at 11,500 strike which also holds the maximum open interest and also likely to act as an immediate hurdle. If Nifty breaks above 11,500 then we can expect some short-covering move towards 11,600 levels. So the overall option data indicates a tug of war between Call and Put writer and expect Nifty to oscillate in the range of 11,300 - 11,600 in the coming week. … [Read more...] about ‘Can initiate Bull Call Spread in weekly expiry as Bank Nifty may see moderate up move’
Sensex jumps over 600 points, Nifty closes above 11,400; 4 factors that lifted market
All eyes are on a meeting that India’s External Affairs Minister S Jaishankar will have with his Chinese counterpart Wang Yi later in the day as the troops of both the countries remain in a tense standoff in eastern Ladakh along the Line of Actual Control (LAC). … [Read more...] about Sensex jumps over 600 points, Nifty closes above 11,400; 4 factors that lifted market
‘Nifty rebound amid lack of participation concerning, hedge Nifty via Modified Put Butterfly’
Aggregate stock futures OI was also not too impressive. This is because the rise was fairly restricted to a limited number of stocks, some of which could attract longs. This led to majority of stocks ending up with rise in OI and fall in price equation labelled as shorts for the week. Considering the mid expiry time, relatively higher share (more than half of participating stocks) witnessed unwinding in OI. This left us with longs as the least favourite OI activity for the week. … [Read more...] about ‘Nifty rebound amid lack of participation concerning, hedge Nifty via Modified Put Butterfly’
‘Short-term traders should avoid fresh longs as up move can be limited’
BPCL had been hovering near its 200-day EMA since last 4 weeks now but Tuesday's occurrence of a Bullish Engulfing pattern formation supported with significant volume breakout is a good indication for fresh momentum. Option data saw strong open interest built-up at 400 PE strike which compliments the bullish setup. While the oscillation since last 6 weeks has resulted into a Triangular formation with an apex placed around Rs 409 zone. A decisive breach above Rs 418 would open the gateway towards the triangle pattern target area around Rs 435-440. Hence fresh longs could be added with a stop below Rs 404 for a move towards Rs 435-440. … [Read more...] about ‘Short-term traders should avoid fresh longs as up move can be limited’
