• Nifty (Jul) futures closed at a premium of 1.20 points versus discount of 1.20 points.
• Call writing was seen at 9700 strikes, put writing was seen at 9500 strike.
• Maximum positions are at 9700 CE and 9500 PE. Nifty is expected to trade in the range of 9500-9700.
• AMBUJACEM (14%), TVSMOTOR (13%), PVR (12%), RELIANCE (12%) and COLPAL (11%) were the top open interest gainers in the market.
• MINDTREE (-9%), HEXAWARE (-7%), LUPIN (-6%), PEL (-6%) and CHOLAFIN (-6%) were the top open interest losers in the market.
• The Nifty Put Call Ratio (PCR) finally stood at 1.27 for July month contract.
• Around 1.13 lakh shares were added in open interest with a decrease in price. Short buildup was observed by market participants in today’s trade.
• On the options front, volatility index decreased in today’s trade by around 1.00%.
Derivative Idea
NTPC added around 6% of open interest as Long positions and 30% rise in volumes.
On Daily charts, NTPC is trading above 21 and 55 DEMA which indicates upside momentum in it.
Current chart pattern and derivatives data suggest that we expect further rally in coming sessions.
Trading Recommendation
Buy NTPC (July) Future above 160.50 Stop Loss 157 Target 165 -- 170++
More will update soon!!
