• Nifty June future is trading at a premium of 15.10 points as compared to a premium of 3.10 points in the last trading session.
Bank Nifty June future is trading at a premium of 3.40 points as compared to a discount of 7.20 points.
• Call writing was seen at 9600 & 9700 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.
• J.P Associate (41%), Adani Power (14%), Colpal (13%),
Andhra Bank (10%) and PFC (10%) were the top open
interest gainers in the market.
• Fortis (-14%), Ramco Cement (-11%), Allahabad Bank (-11%), Ashok Leyland
(-10%) and Niit Tech (-10%) were the top open interest
losers in the market.
• Fertilisers, Media, Pharma and Banking stocks lost the most during last week.
• FIIs were net seller of around 523Cr whereas DIIs were net buyers of around 1421Cr in cash segment during the week.
• Around 9.21 lakh shares were added in open interest
with decrease in price indicating short buildup was observed by market participants in today’s trade.
• On the options front volatility index has increased in Friday's trade by around 3.59 %.
Derivative Idea
Andhra Bank added around 10% of open interest as fresh short positions. It has also witnessed congestion zone breakdown of last
20 trading session or so on daily charts. It has also shown breakdown from 21DEMA on daily charts.
Trading Recommendations
Sell Andhra Bank Future below 55.00 Stop 58.00 Target 51.00--48.00
More will update soon!!
