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MTECHTIPS:-Market Snapshot :& Options Analysis:
Nifty futures after seeing gap down opening on Friday witnessed positive momentum from the lower levels with buying emerged especially in Banking, FMCG and PSU space. Nifty future witnessed short covering rally and touched near 4900 levels which is acting as crucial levels for the market. Nifty future saw decrease in open interest by 1.57% with a rise in price by 0.76%. Market witnessed buying interest Banking, FMCG, PSU, Oil & Gas, Power and Metal sector stocks whereas selling pressure was seen in Auto, CG and Realty sector stocks. If Nifty future sustains above 4900 levels then only relief rally may be continued towards 4950-4980 levels which is next immediate resistance zone.On the Options front, maximum Put OI is shifted at 4700 followed by 4800 strike price whereas maximum Call OI is at 5200 followed by 5100 strike price. The Put Call Ratio based on Open Interest of Nifty stood at 0.91 levels. HV of Nifty moved down from 21.36 to 21.01 levels and IV marginally moved up from 22.49 to 22.56 levels. The market turnover increased by 37.25% in terms of number of contracts traded vis-à-vis previous trading day whereas in terms of rupees increased by 36.25%.
Nifty futures after seeing gap down opening on Friday witnessed positive momentum from the lower levels with buying emerged especially in Banking, FMCG and PSU space. Nifty future witnessed short covering rally and touched near 4900 levels which is acting as crucial levels for the market. Nifty future saw decrease in open interest by 1.57% with a rise in price by 0.76%. Market witnessed buying interest Banking, FMCG, PSU, Oil & Gas, Power and Metal sector stocks whereas selling pressure was seen in Auto, CG and Realty sector stocks. If Nifty future sustains above 4900 levels then only relief rally may be continued towards 4950-4980 levels which is next immediate resistance zone.On the Options front, maximum Put OI is shifted at 4700 followed by 4800 strike price whereas maximum Call OI is at 5200 followed by 5100 strike price. The Put Call Ratio based on Open Interest of Nifty stood at 0.91 levels. HV of Nifty moved down from 21.36 to 21.01 levels and IV marginally moved up from 22.49 to 22.56 levels. The market turnover increased by 37.25% in terms of number of contracts traded vis-à-vis previous trading day whereas in terms of rupees increased by 36.25%.
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