In the week gone by Nifty cost-of-carry ended negative indicating short buildup. Nifty future closed at discount of 2 points. Nifty is expected to remain weak as it is trading below all its long term moving averages. The options concentration continues to be at the 4900-strike put option with an open interest of above 70 lakh shares. Among call options the 5200-strike holds the highest open interest of above 70 lakh shares followed by the 5100-strike call with above 50 lakh shares. The put-call ratio of open interest decreased and closed at 0.94 levels which indicating call writing and put buying. The Implied Volatility (IV) of call options closed higher at 21.56% while the average IV of put options ended at 22.20%. Nifty VIX has increased last week and is expected to remain volatile in the short term. The index may find intermediate support around 4850 levels and resistance near 5050 levels.
SELL NIFTY FUT4990 SL 5055 TGT 4850 4760 4600
SELL BANKNIFTY 9500 SL 9670 TGT 9090 8840 8440
No comments:
Post a Comment