Data Feeler: Nifty future after a sell off on Monday took support around 5980 levels and a small bounce back was seen towards 6040 levels intraday. Nifty future may continue its lackluster move till the time it trading in between the range of 5980-6050 levels. Nifty future for the day, if it sustains above 6050 levels then only rally may be seen towards 6100 levels whereas sustaining below 5980 levels may see selling pressure in the market towards 5950-5920 levels. Looking at the option concentration data for May series, maximum put OI is shifted at 5800 followed by 5700 strike prices whereas maximum call OI is placed at 6200 followed by 6000 strike prices. Bank Nifty for the day immediate support is at around 12400 levels whereas s trong hurdle is placed around 12750 area.
Put Call Ratio based on Open Interest of Nifty moved up from 1.16 to 1.19 levels. Historical Volatility of Nifty moved down from 19.24 to 18.67 levels and Implied Volatility also moved down from 16.93 to 16.87 levels.
Nifty future closed positive at 6006 levels. Nifty future saw increase in OI by 5.66% with a rise in price by 0.19%. Market witnessed marginal buying interest in HC, Tech, PSU, Power, Oil& Gas, IT and CG space whereas selling pressure was seen in CD, Realty, Auto and FMCG sector stocks. Nifty future closed at premium of 10 points as compared to premium of 14 points in previous trading session.
The market turnover decreased by 6.1% in terms of number of contracts traded vis-à-vis previous trading day whereas in terms of rupees decreased by 7.3%.
Derivative Calls: Buy on SUNTV & FEDERAL BANK
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