Nifty December future is trading at a premium with spot. Maximum call writing and concentration witnessed at 6,000 strike indicates this level to act as strong resistance whereas, the downside is limited to 5,600 level on account of major put writing and concentration. However on the upside 5,900 would act as resistance for intermediate term on back of more call concentration than put. The broad range for December expiry is 6,000 and 5,600 on account of concentration.
Option Analysis:
· Call writing: During the week, major call writing was witnessed at 6,000 CE and 5,900 CE of 26.99 lakh and 23.44 lakh shares. Concentration is witnessed at 6,000 CE of 59.9 lakh shares.
· Put Writing: On the other hand, put writing is witnessed in out-of-money puts between 5,800 PE and 5,500 PE where the total OI added is 109 lakh shares with maximum at 5,600 PE. Shedding was seen at 6,000 PE and 6,100 PE of ~1 lakh shares each. Concentration is at 5,600 PE of 69 lakh shares.
Implications: Maximum call writing and concentration witnessed at 6,000 strike indicates this level to act as strong resistance whereas, the downside is limited to 5,600 level on account of major put writing and concentration. However on the upside 5,900 would act as resistance for intermediate term on back of more call concentration than put. The broad range for December expiry is 6,000 and 5,600 on account of concentration.
FIIs and DIIs activity in capital market segment
· FIIs were net sellers of Rs 628 crore with Gross buyers of Rs 4,332 crore and Gross Sellers of Rs 4,961 crore.
· DIIs were net buyers of Rs 959 crore with Gross buyers of Rs 2,870 crore and Gross sellers of Rs 1,911 crore.
India VIX (Inverse relationship between Nifty and Indian VIX)
· Volatility for 26th November, 2010 close at 22.6 which is 4.4% lower as compared to previous close, after touching an intraday high of 23.84 and low of 20.1
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