Good morning !! Derivatives update for Monday, 19th June 2023.
India VIX was down by 2.17% from 11.08 to 10.84 levels. Volatility sunk lower and supported the bulls at record high index levels.
Nifty *Put/Call Ratio* (OI) increased from 1.13 to 1.29 level.
On option front, weekly maximum Call OI is at 18800 then 19000 strike while maximum Put OI is at 18700 then 18800 strike. Call writing is seen at 19100 then 19000 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 18700 to 18900 zones.*
For weekly Bank Nifty, Maximum Put OI is at 44000 then 43500 strike and maximum Call OI is placed at 44000 then 45500 strike. We have seen Call writing at 45500 with unwinding at 43600 and Put writing is witnessed at 43700 strike.
Bank Nifty Put Call Ratio increased from 0.66 to 0.99. Implied volatility fell from 13.9 to 12.2 levels.
Bank Nifty (CMP 43,938.15)
Data setup for Bank Nifty suggests a trading range in between *43500/43750 to 44144/44250 zones.*
Looking ahead at the FII’s derivatives activity, there was long built up in index futures, call buying & out selling in index options and long built up in stock futures.
In the cash market, FIIs were net buyers to the tune of 795 crores while DII’s were net buyers worth 681 crores. FIIs Index Long Short Ratio increased to 55.13%.
Derivatives data and price set up suggests, Nifty has to hold above 18777 zones to witness an up move towards 18888 and 19000 zones while on the downside support exists at 18710 and 18676 zones.
Bank Nifty has to hold above 43750 zones for a bounce towards 44144 then 44250 levels while on the downside support is seen at 43750 then 43500 zones.
Thank you. Have a great trading day and week ahead..!!
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