Nifty futures closed at 16955.05 on a negative note with -6.68% - Axis Securities Ltd
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NIFTY HIGHLIGHTS
* Nifty futures closed at 16955.05 on a negative note with -6.68% decrease in open interest and a price cut of -1.30% indicating Long Unwinding.
* Nifty annualized volatility index India Vix has increased to 15.24% from 14.77% UP by 3.20%.
* Bank Nifty futures closed at 39423.8 on a negative note with -18.18% decrease in open interest and a price cut of -0.80% indicating Long Unwinding.
* The total open interest position of FII's in Index Futures is at Rs 22,004 increased by 2,716 Cr and in Stock Futures it is at Rs 235,440 increased by 1,445 Cr.
* The ‘Long Short Ratio’ in the index futures for FII’s stands at 13 percent compared to 10 percent of last week indicating marginal Addition in LONG POSITIONS
* PCR OI during the week has made a high of 0.93 & low of 0.78 and closed on weekly basis at 0.78 levels compared to 0.88 of last week.
* PCR OI currently is at 0.78 level which is below the median line and shows that market participants have bought more of CALL options compared to PUT options in the week indicating that Nifty will continue the current trend with CAUTIOUS BIAS
* Options Built up Shows that for now Nifty has strong support at 17,000 followed by 16,500, 16,800 and resistance at 17,500 levels followed by 17,100 & 17,200
* 17,200, 17,100 & 17,500 strike CALL has high open Interest concentration ; while in Put strikes 17,000 followed by 16,500 & 16,800 strike has high open interest concentration which suggests that Nifty is likely to trade between these levels of 17,300 on upside & 16,800 on downside for the coming week, with 17,000 acting as a pivotal level.
* This week major addition in monthly expiry was seen on the PUT front in 17,100, 16,900 and 16,800 strike adding 27.71 Lac, 25.91 Lac and 36.69 Lac shares in OI respectively; while there were was unwinding witnessed at 17,300 & 17,500 strike to the tune of 2.21 Lac & 3.63 Lac shares respectively.
* This week major addition in monthly expiry was seen on the CALL front in 17,100, 17,200 and 17,000 strike adding 85.74 Lac, 67.93 Lac and 57.33 Lac shares in OI respectively; while there was no significant unwinding witnessed at any strike
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