OI build-up in 2580026500 Calls and 2550025800 Puts signals rangebound trade -Nirmal Bang Ltd
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Summary
* Indian markets closed on a flat note where selling was mainly seen in Media, Auto, Oil & Gas and Chemicals. Nifty Dec Futures closed at 25,880.60 (down 17.20 points) at a premium of 65.05 pts to spot.
* The above second chart shows previous trading day’s change in Nifty options where additions in OI were seen in 25800, 26100, 26200, 26500 strike Calls and additions at 25800, 25700, 25600, 25500 strike Puts indicating market is likely to remain range bound in the near term.
* Highest OI build-up is seen at 26000 strike Calls and 26000 strike Puts, to the tune of 24.93mn and 15.25mn respectively.
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Quote on Market by Vinod Nair, Head of Research, Geojit Financial Services
