Friday, 1 June 2018

Trade setup for Friday Market and Trading View for next series

Market Overview And Trade SetUp For Friday

As expected Market has given a gap up opening and given up earlier gain in profit booking but market was completely in hand of option writer as mentioned earlier taken the support at 10620 and struggled till second half. After new of high GDP expectation in comparison of March, Market has given a breakout and closed above 10700.

Though Market has closed above 10700 but its closed with Caution note looking Advance Decline Ratio and overall closing ending on lower side for the series. Nifty rollovers stood at 58 percent which was slightly below 72 percent recorded in April expiry and was lower than the 3-month average of 67.3 percent. And in continuity confirmation of more buying need in coming session and nifty must break the next resistance level of 10780 to get closed above 10820 level in support of bulls. The Nifty future closed with the gains of 1.11 percent at 10,736 while Bank Nifty closed with the gains of 7.78 percent in the entire May series but on the lower side 10660 would work as stop loss to get it further slipped to 10560.

Nifty Bank

The Nifty Bank index closed at 26,956 with 7.59% gain aprox and next upside target are placed at 27295 and 27640 for the series with stop or support  at 26,480  and followed by 26,020.

Option Summary

In terms of open interest, the 10,800 Call option has seen the most call writing so far at 47.57 lakh contracts.The second-highest buildup has taken place in the 11,000 call option, which has seen 27.87 lakh contracts getting written so far. The 10,900 call option has accumulated 17.96 lakh contracts.There was hardly any Call writing seen.Call unwinding was seen at the strike price of 10,700, which shed 30.81 lakh contracts, followed by 10,600, which shed 22.07 lakh contracts, and 10,500, which shed 5.22 lakh contracts.

Maximum open interest in put options was seen at a strike price of 10,500, in which 59.30 lakh contracts have been added till date.The 10,600 put option comes next, having added 46.93 lakh contracts so far, and the 10,300 put option, which has now accumulated 27.63 lakh contracts.
Put writing was seen at the strike price of 10,600, which added 15.33 lakh contracts, followed by 10,700, which added 8.15 lakh contracts and 10,500, which added 1.38 lakh contracts.
Put unwinding was seen at the strike price of 10,800, which shed 2.97 lakh contracts and 10,300, which shed 2.50 lakh contracts along with 10,400, which shed 2.25 lakh contracts.

FIIs and Institution Turnover 

Foreign Institutional Investors (FIIs) sold shares worth Rs 15.31 crore, while domestic institutional investors bought shares worth Rs 266.02 crore in the Indian equity market

No stocks under ban period on NSE

As observed by Emmkay_Ra