Good morning !!
Derivatives update for Monday, 12th June 2023.
India VIX was down by 1.22% from 11.25 to 11.12 levels. Volatility has been sinking from the last four weeks and has dried up which is creating swings within a smaller range in the index.
Nifty *Put/Call Ratio* (OI) decreased from 1.06 to 0.84 level.
On option front, weekly maximum Call OI is at 18700 then 18800 strike while maximum Put OI is at 18600 then 18500 strike. Call writing is seen at 18600 then 18700 strike while Put writing is seen at 18600 then 18500 strike.
*Option data suggests a broader trading range in between 18400 to 18900 zones while an immediate trading range in between 18450 to 18750 zones.*
For weekly Bank Nifty, Maximum Put OI is at 44000 then 42500 strike and maximum Call OI is placed at 44000 then 46000 strike. We have seen Call writing 44000 and Put writing is witnessed at 42500 strike as well.
Bank Nifty Put Call Ratio remained unchanged at 0.77. Implied volatility fell from 13.3 to 12.2 levels.
Bank Nifty (CMP 43,989)
Data setup for Bank Nifty suggests a trading range in between *43500/43750 to 44250/44500 zones.*
Looking ahead at the FII’s derivatives activity, there was long liquidation in index futures, call selling & put buying in index options and short built up in stock futures.
In the cash market, FIIs were net sellers to the tune of 309 crores while DII’s were net buyers worth 1246 crores. FIIs Index Long Short Ratio decreased to 46.09%.
Derivatives data and price set up suggests, till Nifty holds below 18676, some weakness could be seen towards 18442 and 18350 zones while hurdles are placed at 18676 and 18777 zones.
Bank Nifty has cross and hold above 44044 zones for an up move towards 44250 then 44500 zones while on the downside support is seen at 43750 then 43500 levels.
Thank you. Have a great trading day and week ahead..!!
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