MTECHTIPS

MTECHTIPS:-Market Snapshot:& Options Analysis:


Nifty futures started the June series on disappointing note with selling seen almost across the board especially in CG, Power, Auto, Oil & Gas, IT, Banking, Tech and Metal sector stocks. Nifty is witnessing selling pressure at every bounce back and  not able to sustain at higher levels.  Nifty future saw increase in  open interest by 7.7% with a fall in price by 1.97%.Market witnessed selling pressure across the board except in FMCG space. If sustains above 4800 levels then only relief rally may be seen towards 4850 levels whereas sustaining below 4770 levels would attract further selling pressure towards 4700 and below levels.On the Options front, maximum Put OI is stood at  4500 followed by 4800 strike price whereas maximum Call OI is at 5000 followed by 5100 strike price. The Put Call Ratio based on Open Interest of Nifty moved up from 1.22 to 1.23 levels.  HV of Nifty moved up from 19.62 to 21.30 levels and IV moved up from  24.05 to 25.07 levels.  The market turnover decreased by 58.65% in terms of number of contracts traded  vis-à-vis previous trading day whereas in terms of rupees decreased by 59.23%.