• Nifty June 2017 futures closed at 9513.00 on Tuesday at a premium of 1.60 points over spot closing of 9511.40, while Bank Nifty June 2017 futures closed at 23229.00 on Tuesday at a premium of 12.75 points over spot closing of 23216.25.
• Call writing was seen at 9600 strikes, put writing was seen at 9500 strike and put buying (unwinding by writers) was seen at 9400 strike.
• Maximum positions are at 9700 CE and 9500 PE. Nifty is likely to trade in the range of 9700-9500.
• Petronet (21%), BPCL (21%), KSCL (18%), M&M (14%) and PAGEIND (12%) were the top open
Interest gainers in the market.
• ABIRLANUVO (-21%), RAMOCEM (-14%), ADANIPOWER (-13%), PVR (-12%) and TATAELXSI
(-10%) were the top open interest losers in the market.
• Cement and Banking stocks lost the most in last traiding session.
• The Nifty Put Call Ratio (PCR) finally stood at 0.81 for June
month contract.
• Around 13.07 lakh shares were added in open interest with decrease in price indicating short buildup was observed by market participants in Tuesday's trade.
• On the options front volatility index has increased in today’s trade by around 1 %.
Derivative Idea
GSFC added around 8% of open interest as short
positions. On Daily charts, it has given fresh breakdown from Head & Shoulder pattern with increase in volumes, also trading below its 21 days and 55 days moving averages with stood at 124.30 and 124.90.
Current chart pattern and derivatives data suggest that we expect further decline in coming sessions.
Trading Recommendations
Sell GSFC July Future below 115 Stop loss 120 Target 108--105 (Lot Size 4500)
More will update soon!!
