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Published on 15/11/2019 9:48:27 AM | Source: Geojit Financial Services Ltd

Nifty PCR increased to 1.17 from last day's 1.09 on addition of put options in the ATM - Geojit Financial

F&O OUTLOOK

Review

Nifty futures closed at 11899.65 with a gain of 0.31% on Thursday. Open interest of current expiry shed by 2.6 lakh shares indicating short covering in the markets. Nifty Nov futures closed at a premium of 27.55 points against previous day's 22.8 points. Nifty PCR increased to 1.17 from last day's 1.09 on addition of put options in the ATM and OTM put options strikes. India VIX slumped nearly 5% to end at 15.65 from Wednesday's 16.4625. Maximum OI on the call side is seen at 11,900 strike while max Put OI was seen in 11,800.

 

FIIs subdued.

FIIs’ activity was on the calmer side, especially considering weekly expiry. New positions were limited. Largest exit came from index put longs. Along index futures, longs were cut by a paltry 67 contracts, while shorts were raised by 4551 contracts.

 

Nifty Outlook: New trading range expected

In current weekly long puts were added across strikes, and short calls added in the OTMs, while near ITM calls saw long addition. Monthly contracts also saw similar activity, expect that at ATM (11800) there is call liquidation. In all, traders are still following index rather than taking aggressive bets along calls. This calls for a range expansion or volatility. Puts meanwhile, are written along OTMs, suggesting that traders have not yet let go off the bearish expectation that has been prevailing for the last two weeks.

 

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