IGI Logo

NIFTY HIGHLIGHTS

* On Friday, Nifty futures closed lower at 22995.6, with open interest rising 3.6% and a price decline of 2.6% (619.3 points), indicating a short buildup.

* Nifty annualised volatility index India Vix has increased to 15.02% from 13.69%, up by 9.7%

* Bank Nifty futures of the current expiry closed on a negative note on Friday at 49099.45, with a 20.9% increase in open interest and a price decrease of 2.0% (1,020 points), indicating a short build-up.

* The total outstanding OI in Nifty futures stands at 1,93,62,750 compared to 1,78,72,200 of the previous week, while in Bank Nifty, it is at 40,74,870 against 31,23,570.

* The Long-Short Ratio for FIIs in index futures held steady at 0.19. However, there was a rise in both long and short positions compared to the previous week, with the increase on the short side outpacing that of the long side.

Nifty PCR OI

* During the week, PCR OI peaked at 0.90, dipped to 0.69, and closed at 0.77. This represents a decrease from last week's closing of 0.83.

* The current Put-Call Ratio (PCR) stands at 0.77, below the neutral threshold of 1. This indicates that there were more holders of call options than put options in the market over the past week, suggesting a cautious outlook for Nifty in the forthcoming period week.

Open Interest Analysis

* As per the current expiry, Options built up show that Nifty has strong support at 22,800 and 22,500 and resistance at 23,300 and 23,500.

* The monthly options data indicates that Call options exhibit considerable open interest at the 24,000 and 23,500 strikes. Meanwhile, the Put options show the highest open interest at the 23,000 strike price, followed by 22,500. Given the current conditions, Nifty's anticipated weekly range will fall between 22,500 and 23,500, with 23,000 serving as the key level.

Change in Open Interest

* This week's major monthly expiry addition was seen on the Call front in 23,500, 23,200, and 23,000 strikes, adding 27.9 Lc, 14 Lc, and 15.6 Lc shares in OI, respectively, while there was no significant unwinding seen at any strike.

* This week's significant monthly expiry addition was seen on the Put front in the 22,000, 22,500, and 22,800 strikes, adding 9 Lc, 12 Lc, and 6.3 Lc shares in OI, respectively, while there was unwinding witnessed at 23,500 & 23,000 strike.

For More Axis Securities Disclaimer https://simplehai.axisdirect.in/disclaimer-home

SEBI Registration number is INZ000161633