Market Review
After having a gap up opening at 5501.70(yesterday close 5487.50), Nifty drifted to lower level 5463.40 in morning session but banking sectors pushed Nifty up and it had a smart recovery . Nifty closed the session at 5564 up 64 points and BSE rallied 200 points and closed little above 18500.
Feb Series future OI has increased by 1.15% and Nifty price up by 1.18%. This indicates that fresh longs are being opened.
Calls OI at strike 5300, 5400, 5500 have gone down by 10%, 16% , 13% respectively and Calls OI at 5600 has gone up by 6%. This show shows that who had shorted Nifty and were struck at lower price now think this up move may continue for some more time.
Lot of Puts writing at strike price 5500 and 5600 have taken place today. Puts OI at strikes 5500 , 5600 have gone up significantly and added 2.1 m(27%) and 931 k( 51%).
In Near term, 5600 level may work as resistance and 5500 will work as support level.
Market for Tomorrow
Over all, I may not be wrong if I say that these data suggest that Nifty will have few more upside in coming sessions.
I would be watching 5550, 5625 Levels. If Nifty crosses 5625 with Volume then we may see 5800.
But at the moment I think nifty may settle down in between 5500-5600 for his series.
Idea about few heavy weight Stocks on Nifty
Tata Motors:
Future OI added 66500 (.65%) and price is up .57% and closed at 1240.40.
Calls OI at strikes 1150 , 1200 ,1250 has gone down by 1.8% ,6.9%,5.9% respectively but OI has gone up at strike 1300. Massive Calls writing is there at 1150 (1.36 m) ,1200(558K) , 1250(433k).
Puts OI at strike 1150 has gone down by 2.4% and at 1200 has increased by 26.1%
This data show the people are divided and are not sure whether it will go up from here . It could be in range for few days. We need to keep a watch on new developments.
SBIN:
Future OI added 41375 (1%) and price is up 1,11% and closed at 2774.
Calls OI at strikes 2700, 2750 , 2800 have gone down by 7% 22% and 16% respectively .
Puts OI at strikes 2700 and 2750 have gone up massively by 30% and 177% respectively. But at 2800 it has gone down by 1%
Over all this counter looks good for long but 2800 may act as a resistance and 2700 as support level in near term.
Reliance:
Future OI added 569250 (3.47%) and price is up 1.06% and closed at 957.50, from previous close.
Call OI at strike 950 has up by 90% .
Puts OI at strikes 950, 960 have gone up by 31% and 88% respectively. But at 980 it has gone down by 22%
Levels 950 , 960 may work as resistance in coming session if it cross these level then massive calls are there at 980 , 1000 levels.
After having a gap up opening at 5501.70(yesterday close 5487.50), Nifty drifted to lower level 5463.40 in morning session but banking sectors pushed Nifty up and it had a smart recovery . Nifty closed the session at 5564 up 64 points and BSE rallied 200 points and closed little above 18500.
Feb Series future OI has increased by 1.15% and Nifty price up by 1.18%. This indicates that fresh longs are being opened.
Calls OI at strike 5300, 5400, 5500 have gone down by 10%, 16% , 13% respectively and Calls OI at 5600 has gone up by 6%. This show shows that who had shorted Nifty and were struck at lower price now think this up move may continue for some more time.
Lot of Puts writing at strike price 5500 and 5600 have taken place today. Puts OI at strikes 5500 , 5600 have gone up significantly and added 2.1 m(27%) and 931 k( 51%).
In Near term, 5600 level may work as resistance and 5500 will work as support level.
Market for Tomorrow
Over all, I may not be wrong if I say that these data suggest that Nifty will have few more upside in coming sessions.
I would be watching 5550, 5625 Levels. If Nifty crosses 5625 with Volume then we may see 5800.
But at the moment I think nifty may settle down in between 5500-5600 for his series.
Idea about few heavy weight Stocks on Nifty
Tata Motors:
Future OI added 66500 (.65%) and price is up .57% and closed at 1240.40.
Calls OI at strikes 1150 , 1200 ,1250 has gone down by 1.8% ,6.9%,5.9% respectively but OI has gone up at strike 1300. Massive Calls writing is there at 1150 (1.36 m) ,1200(558K) , 1250(433k).
Puts OI at strike 1150 has gone down by 2.4% and at 1200 has increased by 26.1%
This data show the people are divided and are not sure whether it will go up from here . It could be in range for few days. We need to keep a watch on new developments.
SBIN:
Future OI added 41375 (1%) and price is up 1,11% and closed at 2774.
Calls OI at strikes 2700, 2750 , 2800 have gone down by 7% 22% and 16% respectively .
Puts OI at strikes 2700 and 2750 have gone up massively by 30% and 177% respectively. But at 2800 it has gone down by 1%
Over all this counter looks good for long but 2800 may act as a resistance and 2700 as support level in near term.
Reliance:
Future OI added 569250 (3.47%) and price is up 1.06% and closed at 957.50, from previous close.
Call OI at strike 950 has up by 90% .
Puts OI at strikes 950, 960 have gone up by 31% and 88% respectively. But at 980 it has gone down by 22%
Levels 950 , 960 may work as resistance in coming session if it cross these level then massive calls are there at 980 , 1000 levels.
