Good morning !!
Derivatives update for Thursday, 22nd June 2023.
India VIX was up by 1.44% from 11.13 to 11.29 levels. Volatility was slightly on the rise but moved in its previous day’s range. It has been hovering in a rather smaller range from the last few weeks.
Nifty *Put/Call Ratio* (OI) increased from 1.16 to 1.18 level.
On option front, weekly maximum Call OI is at 19000 then 18900 strike while maximum Put OI is at 18800 then 18700 strike. Call writing is seen at 18900 then 19000 strike while Put writing is seen at 18800 then 18850 strike.
*Option data suggests a shift in broader trading range in between 18600 to 19000 zones while an immediate trading range in between 18700 to 18950 zones.*
For weekly Bank Nifty, Maximum Put OI is at 43500 then 43700 strike and maximum Call OI is placed at 44000 then 45000 strike. We have seen minor Call writing at 44000 and Put writing is witnessed at 43700 strike.
Bank Nifty Put Call Ratio increased from 0.92 to 0.95. Implied volatility fell from 12.69 to 12.67 levels.
Bank Nifty (CMP 43,859.20)
Data setup for Bank Nifty suggests a trading range in between *43333/43500 to 44044/44250 zones.*
Looking ahead at the FII’s derivatives activity, there was long liquidation 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 4013 crores while DII’s were net buyers worth 550 crores. FIIs Index Long Short Ratio increased to 52.70%.
Derivatives data and price set up suggests, Nifty has to hold above 18818 zones to witness an up move towards 18888 and 19000 zones while on the downside support exists at 18786 and 18710 zones.
Bank Nifty has to continue to hold above 43750 zones for a bounce toward 44044 then 44250 zones while on the downside support 43500 then 43333 marks.
Thank you. Have a great trading day and weekly expiry ahead..!!
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