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Published on 14/02/2020 9:40:42 AM | Source: Geojit Financial Services Ltd

Nifty Feb futures closed at 12174.6 with a loss of 0.44% - Geojit Financial

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F&O OUTLOOK

Review

Nifty Feb futures closed at 12174.6 with a loss of 0.44% on Thursday. Open interest of the current month expiry declined by 2.38 lakh shares indicating long unwinding in the market. Nifty premium fell to (-)0.05 points from previous day's 27.25 points. Put-Call ratio decreased after a two days of jump; stood at 1.41 from Wednesday's 1.61 led by the covering of Put options in the ATM and OTM strikes. India's Volatility index, VIX slipped nearly 2% to end the day at 13.37 from last day's 13.6225. Maximum Call OI was seen at 12,200 level while maximum OI in the Put options was at 12,100 strike

 

Nifty Outlook: Stay glued on the puts

FIIs sold index futures worth Rs 1235.28cr yesterday, a massive 30.32% reduction, which is unusual considering almost two weeks is available before expiry. Index future shorts saw increase, albiet a modest one by 5586 contracts. Nifty’s option spectrum, show that the bulky 12000 put strike has begun to off load some positions, with yesterday’s dips, even as other strikes get switched to longs. For now, 12100 put strike has attracted a good deal of attention; so that is what traders are eyeing, especially it being closer to the 60 EMA. The 12500 call strike has also seen long liquidation suggesting that range expectation is reducing, especially with active call strikes seeing IVs below 10. There is a six point difference between call and put IVs, which is quite significant, and can be taken as a strong signal for a sizeable move.

 

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