F&O: Options data signifies a trading band between 10,300 and 10,500 for Nifty
ET CONTRIBUTORS|
Updated: Nov 21, 2017, 06.12 PM IST
By Chandan Taparia
The Nifty50 index opened in the positive and remained rangebound for most part of the trading session on Tuesday.
It has formed a doji candle pattern, meaning a small trading range with opening and closing prices that are virtually equal.
Now if it manages to hold above 10,300, then it may head towards 10,400 and 10,450 levels, while on the downside, supports are seen at 10,250 and than 10,178 levels.
On the options front, maximum Put option interest was at strike prices 10,300 and 10,200 while maximum Call OI was at 10500 followed by 10400 strikes.
Significant Put writing was seen at 10300, followed by 10400, while Call unwinding was found in most of the immediate strike prices.. Options band signifies a trading band between 10300 and 10500 in the next coming sessions.
India VIX moved up 2.10 per cent at 13.71.
Bank Nifty managed to hold above 25650 and headed towards 25750 level. It has recently taken support at its lower band of the trading range and has the potential to head towards 26000 and then 26250 levels while on the downside, supports are seen at 25600 then 25400 levels.
India VIX moved up 2.10% to 13.71. Long buildup was seen in specific Pharma and Oil&Gas sectors, whereas shorts were seen on PSU banks and FMCG counters.
(Chandan Taparia is Technical & Derivative Analyst at Motilal Oswal Securities. Investors are advised to consult financial advisers before taking an investment calls based on these observations)
The Nifty50 index opened in the positive and remained rangebound for most part of the trading session on Tuesday.
It has formed a doji candle pattern, meaning a small trading range with opening and closing prices that are virtually equal.
Now if it manages to hold above 10,300, then it may head towards 10,400 and 10,450 levels, while on the downside, supports are seen at 10,250 and than 10,178 levels.
On the options front, maximum Put option interest was at strike prices 10,300 and 10,200 while maximum Call OI was at 10500 followed by 10400 strikes.
Significant Put writing was seen at 10300, followed by 10400, while Call unwinding was found in most of the immediate strike prices.. Options band signifies a trading band between 10300 and 10500 in the next coming sessions.
India VIX moved up 2.10 per cent at 13.71.
Bank Nifty managed to hold above 25650 and headed towards 25750 level. It has recently taken support at its lower band of the trading range and has the potential to head towards 26000 and then 26250 levels while on the downside, supports are seen at 25600 then 25400 levels.
India VIX moved up 2.10% to 13.71. Long buildup was seen in specific Pharma and Oil&Gas sectors, whereas shorts were seen on PSU banks and FMCG counters.
(Chandan Taparia is Technical & Derivative Analyst at Motilal Oswal Securities. Investors are advised to consult financial advisers before taking an investment calls based on these observations)
