Good morning !!
Derivatives update for Friday, 23rd June 2023.
India VIX was up by 2.28% from 11.29 to 11.54 levels. Volatility was slightly on the rise and came out of its range on daily frame.
Nifty *Put/Call Ratio* (OI) decreased from 1.18 to 1.11 level.
On option front, monthly maximum Call OI is at 18800 then 19000 strike while maximum Put OI is at 18800 then 18700 strike. Call writing is seen at 18800 then 18900 strike while Put writing is seen at 18800 then 18700 strike.
*Option data suggests a shift in broader trading range in between 18550 to 19000 zones while an immediate trading range in between 18650 to 18900 zones.*
For weekly Bank Nifty, Maximum Put OI is at 43000 then 43500 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 43000 strike.
Bank Nifty Put Call Ratio decreased from 0.95 to 0.85. Implied volatility fell from 12.67 to 12.58 levels.
Bank Nifty (CMP 43,724.85)
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 built up in index futures, position unwinding in index options and long built up in stock futures.
In the cash market, FIIs were net sellers to the tune of 693 crores while DII’s were net buyers worth 219 crores. FIIs Index Long Short Ratio increased to 53.47%.
Derivatives data and price set up suggests, Nifty has to hold above 18777 zones to witness an up move towards 18888 then 19000 zones while on the downside support exists at 18710 and 18666 zones.
Bank Nifty has to cross and hold above 43750 zones for a bounce towards 44044 then 44250 zones while a hold below the same could see some weakness towards 43500 then 43333 marks.
Thank you. Have a great trading day and weekend.
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