Data Feeler: Nifty future on Tuesday turned out to be an extremely volatile session with trading in a zigzag manner. Nifty after gap up opening witnessed some short covering rally towards 5620 levels but could not able to hold at higher levels in the absence of follow up buying interest and tumbled down with huge selling pressure seen almost across the board. Nifty future intraday made high of 5622 and then after a sustained selling it made low of 5494 levels. Nifty future till the time holding below 5580 levels selling pressure may remain continue whereas sustaining below 5520 levels may put further selling pressur e in the market towards 5450 levels. Looking at the option concentration data for April series, maximum put OI is at 5600 followed by 5500/5400 strike price and maximum call OI is at 5700 followed by 5800 strike prices. Bank Nifty till the holding below 11000 levels selling pressure may be continued towards 11800-11750 levels.
Put Call Ratio based on Open Interest of Nifty moved up from 0.8 to 0.83 levels. Historical Volatility of Nifty moved up from 17 to 17.20 levels and Implied Volatility also moved up from 16.37 to 16.82 levels.
Nifty future saw increase in OI by 6.7% with a fall in price by 1.05%. Market witnessed buying interest only in Auto space whereas selling pressure was seen almost across the board especially in IT, Tech, Oil & Gas, PSU, FMCG, Reality, CD, Power, Banking and CG sector stocks. Nifty future closed at premium of 6 points as compared to premium of 16 points in previous trading session.
The market turnover decreased by 110.45% in terms of number of contracts traded vis-à-vis previous trading day whereas in terms of rupees decreased by 106%.
Derivative Calls: Buy on VOLTAS & Sell on ANDHRA BANK.
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