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MTECHTIPS:-Market Snapshot:&Options Analysis:&Technical Snapshot:
Nifty futures gave a gap down on the back of weak global cues and lost all the gains of the previous trading session with larger volumes. Nifty is not able to sustain above 4900 levels and sell off is seen at every bounce back. Looking at OI concentration, maximum Put OI is stood at 4800 strike price whereas maximum Call OI is at 5200 strike price. PCR is trading below 0.90 levels indicating call writers are getting more aggressive as compared to put writers. Nifty future saw increase in open interest by 1.99% with a fall in price by 1.73%. Market witnessed selling pressure across the board especially in Metal, Auto, CD, CG, banking, Power, PSU, IT, Tech and FMCG sector stocks.On the Options front, maximum Put OI is stood at 4800 strike price whereas maximum Call OI is at 5200 strike price. PCR is trading below 0.90 levels indicating call writers are getting more aggressive as compared to put writers. The Put Call Ratio based on Open Interest of Nifty closed at 0.89 levels. HV of Nifty moved up from 21.11 to 22.03 levels and IV moved up from 22.05 to 22.86 levels. The market turnover increased by 22.50% in terms of number of contracts traded vis-à-vis previous trading day whereas in terms of rupees increased by 21.4%.The Nifty futures gave a gap down opening on the back of weak global cues and the index slipped below the crucial supports in early trade. The index failed to force any recovery, as it slumped to close a volatile range bound session with heavy losses. Boisterous bears went on rampage in Wednesday’s trading session, thrashing stock markets in India by close to two percentage points, which led to sixth negative close for the benchmark indices in last seven trading sessions. Tuesday’s relief rally proved as the calm before the cyclone since investors lost more than double the ground they had covered in the previous session. Sentiments got spooked in the session following the sharp over a percent depreciation in Indian currency, which went on to hit fresh all time lows of 54.46 against the US dollar on sustained dollar demand. Investors grew increasingly worried about the recent sharp fall in Indian currency despite repeated interventions by Reserve Bank of India as relentless risk aversion hit markets and highlighted the vulnerabilities of a country facing challenging fiscal and economic outlooks. across the board profit booking was evident with Metal index getting thrashed by over two and half a percent being the top laggard followed by the rate sensitive Automobile index which too settled with similar amount of losses. Though, no sectoral index managed to keep its head above the water, individual stocks like Sterlite and Bajaj Auto went home with some gains.
Nifty futures gave a gap down on the back of weak global cues and lost all the gains of the previous trading session with larger volumes. Nifty is not able to sustain above 4900 levels and sell off is seen at every bounce back. Looking at OI concentration, maximum Put OI is stood at 4800 strike price whereas maximum Call OI is at 5200 strike price. PCR is trading below 0.90 levels indicating call writers are getting more aggressive as compared to put writers. Nifty future saw increase in open interest by 1.99% with a fall in price by 1.73%. Market witnessed selling pressure across the board especially in Metal, Auto, CD, CG, banking, Power, PSU, IT, Tech and FMCG sector stocks.On the Options front, maximum Put OI is stood at 4800 strike price whereas maximum Call OI is at 5200 strike price. PCR is trading below 0.90 levels indicating call writers are getting more aggressive as compared to put writers. The Put Call Ratio based on Open Interest of Nifty closed at 0.89 levels. HV of Nifty moved up from 21.11 to 22.03 levels and IV moved up from 22.05 to 22.86 levels. The market turnover increased by 22.50% in terms of number of contracts traded vis-à-vis previous trading day whereas in terms of rupees increased by 21.4%.The Nifty futures gave a gap down opening on the back of weak global cues and the index slipped below the crucial supports in early trade. The index failed to force any recovery, as it slumped to close a volatile range bound session with heavy losses. Boisterous bears went on rampage in Wednesday’s trading session, thrashing stock markets in India by close to two percentage points, which led to sixth negative close for the benchmark indices in last seven trading sessions. Tuesday’s relief rally proved as the calm before the cyclone since investors lost more than double the ground they had covered in the previous session. Sentiments got spooked in the session following the sharp over a percent depreciation in Indian currency, which went on to hit fresh all time lows of 54.46 against the US dollar on sustained dollar demand. Investors grew increasingly worried about the recent sharp fall in Indian currency despite repeated interventions by Reserve Bank of India as relentless risk aversion hit markets and highlighted the vulnerabilities of a country facing challenging fiscal and economic outlooks. across the board profit booking was evident with Metal index getting thrashed by over two and half a percent being the top laggard followed by the rate sensitive Automobile index which too settled with similar amount of losses. Though, no sectoral index managed to keep its head above the water, individual stocks like Sterlite and Bajaj Auto went home with some gains.
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