Good morning !! Derivatives update for Monday, 20 May 2023.
India VIX was down by 3.91% from 12.79 to 12.30 levels. Volatility sunk during the day and paved way for the bulls in the market at support zones.
Nifty *Put/Call Ratio* (OI) increased from 0.93 to 1.01 level.
On Option front, monthly Maximum Call OI is at 18200 then 18500 strike while Maximum Put OI is at 18200 then 18000 strike. Call writing is seen at 18450 then 18400 strike while minor Put writing is seen at 18100 then 18000 strike.
*Option data suggests a broader trading range in between 17900 to 18400 zones while an immediate trading range in between 18050 to 18350 zones.*
For weekly Bank Nifty, Maximum Put OI is at 43000 then 44000 strike and maximum Call OI is placed at 44000 then 44500 strike. We have seen Call writing 46000 and Put writing is witnessed at 44000 strike.
Bank Nifty Put Call Ratio increased from 1.01 to 1.15. Implied volatility fell from 14.4 to 13.2 levels.
Bank Nifty (CMP 43,969.4)
Data setup for Bank Nifty suggests a trading range in between *43333/43500 to 44144/44250 zones.*
Looking ahead at the FII’s derivatives activity, there was short built up in index futures, call & put selling in index options and long built up in stock futures.
In the cash market, FIIs were net sellers to the tune of 113 crores while DII’s were net buyers worth 1071 crores. FIIs Index Long Short Ratio decreased to 47.64%.
Derivatives data and price set up suggests, Nifty has to hold above 18181 zones, for an up move towards 18333 and 18442 zones while on the downside supports exist at 18081 and 18018 zones.
Bank Nifty has to hold above 43750 zones for an up move towards 44144 then 44250 zones while on the downside support is seen at 43500 then 43333 levels.
Thank you. Have a great trading day and week ahead..!!
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