MTECHTIPS:-Market Snapshot & Options Analysis:
Nifty futures finally gives a small throwback after four days of continuous selling pressure and managed to close above 5300 psychological mark. On the day of Expiry Nifty intraday touched the 5250 zone and recovery was seen in the last hour of trading session with volume activity. Nifty for the day if it sustains above 5320 levels then intraday bounce back may be seen towards 5350-5370 levels. Whereas on downside if it fails to hold 5280 levels then selling pressure may be seen towards 5250-5220 levels. The rollover trend across the market was broadly in line with historic averages, analysts said. Rollover in NSE's Nifty futures was around 66 per cent, according to provisional data, which is similar to its three-month average rollover. Rollover across the board, at around 82 per cent, was also in line with the threemonth average.On the Options front, maximum Call OI is concentrated at 5600 followed by 5500 strike price whereas maximum Put OI is at 5200 strike price. The Put Call Ratio based on Open Interest of Nifty moved down from 1.13 to 0.92 levels. HV of Nifty slightly moved down from 14.68 to 14.32 levels and IVs also moved down from 16.01 to 15.98 levels. The market turnover increased by 53% in terms of number of contracts traded vis-à-vis previous trading day whereas in terms of rupees increased by 51.55%.
Nifty futures finally gives a small throwback after four days of continuous selling pressure and managed to close above 5300 psychological mark. On the day of Expiry Nifty intraday touched the 5250 zone and recovery was seen in the last hour of trading session with volume activity. Nifty for the day if it sustains above 5320 levels then intraday bounce back may be seen towards 5350-5370 levels. Whereas on downside if it fails to hold 5280 levels then selling pressure may be seen towards 5250-5220 levels. The rollover trend across the market was broadly in line with historic averages, analysts said. Rollover in NSE's Nifty futures was around 66 per cent, according to provisional data, which is similar to its three-month average rollover. Rollover across the board, at around 82 per cent, was also in line with the threemonth average.On the Options front, maximum Call OI is concentrated at 5600 followed by 5500 strike price whereas maximum Put OI is at 5200 strike price. The Put Call Ratio based on Open Interest of Nifty moved down from 1.13 to 0.92 levels. HV of Nifty slightly moved down from 14.68 to 14.32 levels and IVs also moved down from 16.01 to 15.98 levels. The market turnover increased by 53% in terms of number of contracts traded vis-à-vis previous trading day whereas in terms of rupees increased by 51.55%.
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