Good morning !!
Derivatives update for Thursday, 15th June 2023.
India VIX was up by 0.47% from 11.11 to 11.16 levels. Volatility was slightly high but overall lower levels have supported the bulls at higher zones.
Nifty *Put/Call Ratio* (OI) increased from 1.13 to 1.23 level.
On option front, weekly maximum Call OI is at 18900 then 18800 strike while maximum Put OI is at 18700 then 18600 strike. Minor Call writing is seen at 18850 then 18900 strike while meaningful Put writing is seen at 18700 then 18750 strike.
*Option data suggests a broader trading range in between 18500 to 18900 zones while an immediate trading range in between 18650 to 18850 zones.*
For weekly Bank Nifty, Maximum Put OI is at 44000 then 42500 strike and maximum Call OI is placed at 44000 then 44200 strike. We have seen minor Call writing at 44000 and Put writing is witnessed at 44000 strike as well.
Bank Nifty Put Call Ratio decreased from 0.87 to 0.73. Implied volatility rose from 12.5 to 12.8 levels.
Bank Nifty (CMP 43,988)
Data setup for Bank Nifty suggests a trading range in between *43750/43900 to 44250/44500 zones.*
Looking ahead at the FII’s derivatives activity, there was long built up in index futures, call & put selling in index options and short built up in stock futures.
In the cash market, FIIs were net buyers to the tune of 1715 crores while DII’s were net sellers worth 655 crores. FIIs Index Long Short Ratio increased to 53.82%.
Derivatives data and price set up suggests, Nifty has to hold above 18676 zones to witness an up move towards 18888 and 19000 zones while on the downside support exists at 18676 and 18636 zones.
Bank Nifty has to hold above 44044 zones for an up move towards 44250 then 44500 zones while on the downside support is seen at 43900 then 43750 levels.
Thank you. Have a great trading day and weekly expiry ahead..!!
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