Data Feeler: Nifty future started the day on a positive note following the better global cues and rallied towards 5730 area but could not able to hold as profit booking emerged at higher levels after strong recovery in last two trading sessions. Nifty future for the day, if it sustains above 5720 levels then only rally may continue towards 5750 -5780 levels whereas sustaining below 5680 levels may see profit booking in the market towards 5650-5620 levels. Looking at the option concentration data for April series, maximum put OI is shifted at 5600 followed by 5500 strike prices with aggressive fresh put addition seen at 5600 put and maximum call OI is shifted at 5700 followed by 5900 strike prices. Bank Nifty for the day it has sup port around 1180 levels whereas sustaining above 12000 levels may give further upside towards next hurdle around 12350 levels.
Put Call Ratio based on Open Interest of Nifty moved up from 1.02 to 1.04 levels. Historical Volatility of Nifty moved down from 19.69 to 19.10 levels and Implied Volatility also moved down from 17.24 to 16.03 levels.
Nifty future saw decrease in OI by -2.35% with a marginal fall in price. Market witnessed buying interest especially in Metal, FMCG, Auto, HC, Banking, Realty and CD sector stocks whereas marginal selling pressure was seen in Oil & Gas, IT and Tech space. Nifty future closed at premium of 6 points as compared to premium of 7 points in previous trading session.
The market turnover increased by 1.6% in terms of number of contracts traded vis-à-vis previous trading day whereas in terms of rupees increased by 3.6%.
Derivative Calls: Buy on CIPLA & SAIL.
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