Good morning !!
Derivatives update for Friday, 9th June 2023.
India VIX was down by 1.60% from 11.44 to 11.25 levels. Volatility sunk to 10 zones during the day and comforted the bull at higher zone but was followed by a slight rise.
Nifty *Put/Call Ratio* (OI) decreased from 1.38 to 1.06 level.
On option front, weekly maximum Call OI is at 18700 then 18800 strike while maximum Put OI is at 18700 then 18600 strike. Call writing is seen at 18700 then 18800 strike while Put writing is seen at 18700 then 18500 strike.
*Option data suggests a broader trading range in between 18450 to 18900 zones while an immediate trading range in between 18550 to 18800 zones.*
For weekly Bank Nifty, Maximum Put OI is at 44000 then 43500 strike and maximum Call OI is placed at 44000 then 44500 strike. We have seen Call writing 44000 and Put writing is witnessed at 44000 strike as well.
Bank Nifty Put Call Ratio decreased from 0.95 to 0.77. Implied volatility rose from 12.7 to 13.3 levels.
Bank Nifty (CMP 43,995.25)
Data setup for Bank Nifty suggests a trading range in between *43500/43750 to 44250/44500 zones.*
Looking ahead at the FII’s derivatives activity, there was short built up in index futures, position unwinding in index options and long liquidation in stock futures.
In the cash market, FIIs were net buyers to the tune of 212 crores while DII’s were net sellers worth 405 crores. FIIs Index Long Short Ratio decreased to 48.20%.
Derivatives data and price set up suggests, Nifty has to cross and hold above 18666 zones to witness an up move towards 18786 and 18888 zones while on the downside support exists at 18580 and 18530 zones.
Bank Nifty has to cross and hold above 44044 zones for an up move towards 44250 then 44500 zones while on the downside support is seen at 43750 then 43500 levels.
Thank you. Have a great trading day and weekend ahead..!!
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