Good morning !!
Derivatives update for Friday, 30th June 2023.
India VIX was up by 1% from 10.78 to 10.88 levels. Volatility is holding below 11 zones which is supporting the bulls.
Nifty *Put/Call Ratio* (OI) increased from 1.21 to 1.41 level.
Since it’s the beginning of the new series, Option data is scattered at various far strikes in monthly series. On weekly front, Maximum Call OI is at 19200 then 19300 strike while Maximum Put OI is at 18900 then 18800 strike. Minor Call writing is seen at 19300 then 19200 strike while Put writing is seen at 18900 then 18800 strike.
*Option data suggests a broader trading range in between 18600 to 19300 zones while an immediate trading range in between 18750 to 19200 zones.*
For weekly Bank Nifty, Maximum Put OI is at 44000 then 43000 strike and maximum Call OI is placed at 44500 then 45000 strike. We have seen minor Call writing at 44500 and Put writing is witnessed at 44500 strike as well.
Bank Nifty Put Call Ratio decreased from 1.46 to 1.19. Implied volatility rose from 12.04 to 12.40 levels.
Bank Nifty (CMP 44,327.8)
Data setup for Bank Nifty suggests a trading range in between *44044/44250 to 44500/44750 zones.*
Looking ahead at the FII’s derivatives activity, there was position unwinding in index futures, index options and stock futures.
In the cash market, FIIs were net buyers to the tune of 12350 crores while DII’s were net sellers worth 1021 crores. FIIs Index Long Short Ratio increased to 66.42%.
Derivatives data and price set up suggests, Nifty has to continue to hold above 18888 zones to extend the move towards 19200 and 19250 zones while on the downside support exists at 18888 and 18777 zones.
Bank Nifty has to hold above 44250 zones for an up move towards 44500 then new life high of 44750 zones while on the downside support is seen at 44250 then 44044 levels.
Thank you. Have a great trading day and weekend ahead..!!
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