Daily Data Feeler
Ø Nifty future saw decrease in OI with a marginal rise in price.
Ø Market witnessed marginal buying interest in Power, Metal and CG space whereas selling pressure was seen especially in CD, Realty, IT, Tech, HC, Oil & Gas, PSU, FMCG and Banking sector stocks.
Ø Nifty future closed at premium of 17 points as compared to premium of 6 points in previous trading session.
Ø Put Call Ratio based on Open Interest of Nifty moved down from 0.83 to 0.82 levels.
Ø Historical Volatility of Nifty moved down from 17.61 to 17.08 levels.
Ø Implied Volatility also moved down from 16.78 to 15.65 levels.
Nifty future on Friday closed on a flattish note with no major movement was seen in the index however stock specific action was continued in the market. Nifty future ended the week on a negative note with increase in OI suggesting built up of short positions in the market and till the time it is sustaining below 5800 area Bears may remain active in the market. Nifty future for the day, if sustains above 5700 levels then only bounce back may be seen towards 5750 levels. Whereas sustaining below 5650 levels may put further selling pressure towards 5600 levels. Looking at the option concentration data for March series, maximum put OI is still intact at 5700 followed by 5600 strikes whereas maximum Call OI is at 6000 followed by 5900/5800 strike prices. Fresh call writing is seen at 5800 & 5700 strike prices suggesting immediate hurdle area for the markets in very short term. Bank Nifty for the day has immediate support around 11200- 11000 levels whereas strong hurdle around 11500 levels.
Derivatives Calls : Buy PFC and LUPIN
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