• Nifty July 2017 futures closed at 9621.80 on Monday at a premium of 6.80 points over spot closing of 9615.00.
• Call writing was seen at 9800 & 9700 strikes, put writing was seen at 9400 strike.
• Maximum positions are at 9800 CE and 9400 PE. Nifty is expected to trade in the range of 9400-9800.
•PETRONET (100%), REPCOHOME (75%), SRTRANSFIN (60%) MANAPPURAM (48%), CHENNPETRO (47%), were the top open interest gainers in the market.
• ABIRLANUVO (-7.50%), TATACHEM (-6%), NMDC (-6%), GRASIM (-5.50%) and INDIGO (-5%) were the top open interest losers in the market.
•The Nifty Put Call Ratio (PCR) finally stood at 1.07 for July month contract.
• FIIs stood as net buyers of Rs 1454.66 crore in equities.
• Nifty July futures saw an addition of 0.19 million (mn) units, taking the total outstanding open interest (OI) to 19.76 million (mn) units.
Derivative Idea
SRTRANSFIN added around 60.00% of open interest as Long positions. On Daily charts, SRTRANSFIN has given symmetrical triangle breakout at 1025 level with increase in volumes too and also trading above 21 & 55 DEMA which stood at 996 & 1001.
Current chart pattern and derivatives data suggest that we expect further rally in coming sessions.
Trading Recommendations
• Call writing was seen at 9800 & 9700 strikes, put writing was seen at 9400 strike.
• Maximum positions are at 9800 CE and 9400 PE. Nifty is expected to trade in the range of 9400-9800.
•PETRONET (100%), REPCOHOME (75%), SRTRANSFIN (60%) MANAPPURAM (48%), CHENNPETRO (47%), were the top open interest gainers in the market.
• ABIRLANUVO (-7.50%), TATACHEM (-6%), NMDC (-6%), GRASIM (-5.50%) and INDIGO (-5%) were the top open interest losers in the market.
•The Nifty Put Call Ratio (PCR) finally stood at 1.07 for July month contract.
• FIIs stood as net buyers of Rs 1454.66 crore in equities.
• Nifty July futures saw an addition of 0.19 million (mn) units, taking the total outstanding open interest (OI) to 19.76 million (mn) units.
Derivative Idea
SRTRANSFIN added around 60.00% of open interest as Long positions. On Daily charts, SRTRANSFIN has given symmetrical triangle breakout at 1025 level with increase in volumes too and also trading above 21 & 55 DEMA which stood at 996 & 1001.
Current chart pattern and derivatives data suggest that we expect further rally in coming sessions.
Trading Recommendations
Buy SRTRANSFIN (July) Future above 1045 Stop loss 1010 Target 1090—1120++
More will update soon!!
