F&O Tracker: Highest OI build-up in 8300, 8350 call Strikes
FIIs have been net buyers in the Indian market in October, though the investments have been largely debt-heavy.
Updated:
By Anand James, Geojit BNP Paribas
FIIs have been net buyers in the Indian market in October, though the investments have been largely debt-heavy. Their action in the F&O segment looks to be defensive, with short build-ups seen in index futures and index call options.
Volatility indicated by Nifty VIX has been subdued but with October F&O expiry lined up for next week, the trading ranges are likely to expand. PC ratio moved up from 1 to 1.03 hinting that put writers have added more positions. Activity in Nifty call options remains mixed with profit-booking and fresh shorts seen in inthe-money and out-of-the money strikes.
Highest open interest build-up is seen in Nifty 8300 and 8350 call strikes putting stiff resistance for Nifty at 8350 in this series. Meanwhile, a diamond pattern in Nifty's daily chart hints at a possible reversal to the uptrend that has been on since early September from 7550 levels.The consistent reluctance to push beyond 8300 region despite relentless attempts in the last week adds weight to this view.
FIIs have been net buyers in the Indian market in October, though the investments have been largely debt-heavy. Their action in the F&O segment looks to be defensive, with short build-ups seen in index futures and index call options.
Volatility indicated by Nifty VIX has been subdued but with October F&O expiry lined up for next week, the trading ranges are likely to expand. PC ratio moved up from 1 to 1.03 hinting that put writers have added more positions. Activity in Nifty call options remains mixed with profit-booking and fresh shorts seen in inthe-money and out-of-the money strikes.
Highest open interest build-up is seen in Nifty 8300 and 8350 call strikes putting stiff resistance for Nifty at 8350 in this series. Meanwhile, a diamond pattern in Nifty's daily chart hints at a possible reversal to the uptrend that has been on since early September from 7550 levels.The consistent reluctance to push beyond 8300 region despite relentless attempts in the last week adds weight to this view.
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