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MTECHTIPS:-Market Snapshot:&Options Analysis:
Nifty futures witnessed a remarkable bounce back from lower levels after drifting into negative territory in early trades and finally recovered the losses of two sessions. Now 4900 psychological level is critical juncture sustaining above or below it may give further 70-100 points directional move on either side. Nifty future saw decrease in open interest by 1.08% with a rise in price by 2.05%. Market witnessed buying interest across the board especially in Banking, Oil & Gas, Tech, Metal, PSU, Auto, CG, Power and IT sector stocks. For the day, If Nifty future sustains above 4920 levels then relief rally may be seen towards 4970-5000 levels whereas sustaining below 4880 levels would attract further selling pressure towards 4800 levels.On the Options front, Nifty future saw decrease in open interest by 1.08% with a rise in price by 2.05%. Market witnessed buying interest across the board especially in Banking, Oil & Gas, Tech, Metal, PSU, Auto, CG, Power and IT sector stocks. The Put Call Ratio based on Open Interest of Nifty moved up from 0.98 to 1.04 levels. HV of Nifty moved up from 19.94 to 21.53 levels and IV moved down from 25.46 to 23.83 levels. The market turnover increased by 21% in terms of number of contracts traded vis-à-vis previous trading day whereas in terms of rupees increased by 21.5%.
Nifty futures witnessed a remarkable bounce back from lower levels after drifting into negative territory in early trades and finally recovered the losses of two sessions. Now 4900 psychological level is critical juncture sustaining above or below it may give further 70-100 points directional move on either side. Nifty future saw decrease in open interest by 1.08% with a rise in price by 2.05%. Market witnessed buying interest across the board especially in Banking, Oil & Gas, Tech, Metal, PSU, Auto, CG, Power and IT sector stocks. For the day, If Nifty future sustains above 4920 levels then relief rally may be seen towards 4970-5000 levels whereas sustaining below 4880 levels would attract further selling pressure towards 4800 levels.On the Options front, Nifty future saw decrease in open interest by 1.08% with a rise in price by 2.05%. Market witnessed buying interest across the board especially in Banking, Oil & Gas, Tech, Metal, PSU, Auto, CG, Power and IT sector stocks. The Put Call Ratio based on Open Interest of Nifty moved up from 0.98 to 1.04 levels. HV of Nifty moved up from 19.94 to 21.53 levels and IV moved down from 25.46 to 23.83 levels. The market turnover increased by 21% in terms of number of contracts traded vis-à-vis previous trading day whereas in terms of rupees increased by 21.5%.
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