Data Feeler: Nifty future on the last day of March Expiry closed on a positive note with some relief rally seen from lower levels. Nifty future witnessed lackluster move for the first half of trading session but in the later half a strong short covering rally was seen with fresh buying seen in almost across the board. Nifty future for the day, if sustains above 5680 levels then bounce back may be continued towards 5720-5750 levels. Whereas sustaining below 5650 levels may put further selling pressure towards 5600 levels. Looking at the option concentration data for April series, maximum put OI is concentrated at 5600 followed by 5700 strike price and maximum call OI is at 5700 followed by 6000 strike price. Bank Nifty for the day has immediate support around 11200 levels whereas strong hurdle around 11500 levels.
Put Call Ratio based on Open Interest of Nifty moved up from 0.81 to 0.98 levels. Historical Volatility of Nifty moved down from 16.17 to 16.06 levels and Implied Volatility also moved down from 15.48 to 15.44 levels.
Market witnessed buying interest almost across the board especially in Metal, CG, CD, PSU, Banking, IT, Reality, Power, Tech and HC space whereas selling pressure was seen only in Auto sector stocks. Nifty future closed at premium of 32 points in previous trading session.
The market turnover increased by 35.9% in terms of number of contracts traded vis-à-vis previous trading day whereas in terms of rupees increased by 35.65%.
Derivative Calls: Buy on TECHM & KOTAKBANK.
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