Tuesday, 26 June 2018

Market Setup for Tuesday and outlook



The Nifty index started with flat to give up following global clues, last friday has closed with sharp pull back which was not supported by institutional provisional data, resulting  Nifty open nearly flat at 10823 and almost in fist half it was consolidating and later on gives up following european market and made low 10753 before closing at 10762.

Nifty looks week below 10740  and would be looking next support at 10692/663/613 on the other hand Resistance will be 10774/797/823 and followed by 10852.

Bank Nifty future on the other hand open at 26110 to eat all the stop loss in the system and quickly cover to 26797 so basically most of the friday long been closed by hitting of stop loss to release the pressure on index, shows how beautifully managed by operators and later on closed above support at 26604.

Banknifty also look week below 26500 for 26419 and 26317 followed by 26198 and 26021 and and higher side resistance is at 26657/797!


Call Options Data


Maximum call open interest (OI) of 54.90 lakh contracts was at the 11,000 strike price, which will act as a crucial resistance level for the index in the June series.
This was followed by the 10,800 strike price, which now holds 44.58 lakh contracts in open interest, and 10,900, which has accumulated 44.40 lakh contracts in open interest.
Call writing was seen at the strike price of 10,800, which added 13.05 lakh contracts, followed by 10,900, which added 11.86 lakh contracts and 11,000, which added 7.32 lakh contracts.
Call unwinding was seen at the strike price of 11,200, which shed 2.74 lakh contracts, followed by 11,100, which shed 1.77 lakh contracts.


Put Options data


Maximum put open interest of 46.95 lakh contracts was seen at the 10,700 strike price, which will act as a crucial base for the index in June series.

This was followed by the 10,600 strike price, which now holds 37.97 lakh contracts in open interest, and the 10,200 strike price, which has now accumulated 29.07 lakh contracts in open interest.

There was hardly any Put writing seen.

Put unwinding was seen at the strike price of 10,700, which shed 10.11 lakh contracts, followed by 10,800 which shed 5.72 lakh contracts and 10,600, which shed 4.93 lakh contracts.


BUY& SELL