Tuesday, 24 April 2018

Nifty ends above 10600 for the first time since February 05, 2018

Markets continued to remain on a hot streak, ending above the important resistance level of 10600 for the first time since February 05, 2018. Reliance Industries was the biggest outperformer, closing marginally below its life-time high levels, gaining ~3.75% in the trade. Financial stocks remained under selling pressure for the third day in a row with PSU Bank index ending ~1% lower. Nifty IT index saw profit booking, closing ~2% lower. Market breadth ended in the favour of the declines with Advance/Decline ratio closing at 3:4x.

Tracking the derivative data points, Nifty and Bank Nifty futures in combination of April, May & June added open interest to the tune of ~14.3 lakh shares and ~3.75 thousand shares, hinting a buildup of long positions.


Tracking the Nifty Index Options, all the major in the money and out of the money call option strikes saw an unwinding of short positions, as the index breached important resistance with Nifty 10500CE shedding the highest open positions to the tune of ~4.72 lakh shares.

India Vix index ended the session 9.5% lower at 11.9.
 

Nifty+30  points @ 10614
Bank Nifty+81 points @ 25042
Top 2 F&O GainerGMR Infra & Sundaram Finance
Top 2 F&O LoserRELNAVAL & RCOM
Most Active Index Option Contract
Call Option10500CE, O.I: -4.72 lakh shares
Put Option10500PE, O.I: -8.09 lakh shares
Nifty Max O.I Strikes10700CE, 10500PE
Bank Nifty Max O.I Strikes25500CE, 24000PE (26th April 2018 Expiry)

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