• Nifty (Jul) futures closed at a Discount of 1.20
points versus Premium of 10.75 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.
• MANAPPURAM (85%), PAGEIND (22%), HDIL (22%),
TATACHEM (19%) and SREINFRA (16%) were the
top open interest gainers in the market.
• IBREALEST (-10%), UJJIVAN (-8%), ARVIND (-8%),
BALKRISIND (-6%) and HEXAWARE (-6%) were the
top open interest losers in the market.
• The Nifty Put Call Ratio (PCR) finally stood at 1.31 for July month contract.
• Around 0.99 lakh shares were added in open
interest with increase in price indicating long
buildup was observed by market participants in
today’s trade.
• On the options front volatility index has decreased
in today’s trade by around 1.52%.
Derivative Idea
Mannapuram Finance added around 85% of open interest as Long positions and 1002% rise in volumes.
On Daily charts, Mannapuram Finance 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 Manappuram Finance (July) Future above 104 Stop Loss 100 Target 108--110
More will update soon!!
