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MTECHTIPS:- Market Snapshot:&Options Analysis:
Nifty futures witnessed dull move with trading in narrow range of around 50 points throughout the trading session. Nifty is not able breach 4900 area which is acting as immediate hurdle for the market. CG and Banking space witnessed short covering rally yesterday with buying continuing for the second consecutive session. Nifty future witnessed increase in open interest by only 0.5% with a marginal rise in price. Market witnessed buying interest in CG, Banking, Power, Oil & Gas, HC, PSU and IT sector stocks whereas selling pressure was seen in Realty, FMCG and CD space. If Nifty sustains above 4850 levels then relief rally may be seen towards 4900 levels whereas sustaining below 4800 levels would attract further selling pressure towards 4750 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 1.25 to 1.27 levels. HV of Nifty moved down from 20.70 to 20.08 levels and IV moved down from 25.36 to 24.77 levels. The market turnover decreased by 11.6% in terms of number of contracts traded vis-à-vis previous trading day whereas in terms of rupees decreased by 11.2%.
Nifty futures witnessed dull move with trading in narrow range of around 50 points throughout the trading session. Nifty is not able breach 4900 area which is acting as immediate hurdle for the market. CG and Banking space witnessed short covering rally yesterday with buying continuing for the second consecutive session. Nifty future witnessed increase in open interest by only 0.5% with a marginal rise in price. Market witnessed buying interest in CG, Banking, Power, Oil & Gas, HC, PSU and IT sector stocks whereas selling pressure was seen in Realty, FMCG and CD space. If Nifty sustains above 4850 levels then relief rally may be seen towards 4900 levels whereas sustaining below 4800 levels would attract further selling pressure towards 4750 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 1.25 to 1.27 levels. HV of Nifty moved down from 20.70 to 20.08 levels and IV moved down from 25.36 to 24.77 levels. The market turnover decreased by 11.6% in terms of number of contracts traded vis-à-vis previous trading day whereas in terms of rupees decreased by 11.2%.
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