Nifty holds above 15,000-mark; broad call addition in Nifty can be seen from 15,000 to 15,500 CE

The Indian benchmark indices kicked off the week on a jubilant note amid strong global cues and thereafter, the indices were seen extending their early morning gains, which helped Nifty to scale above the 15,100 mark. 

However, Nifty failed to sustain at higher levels and trimmed its gains as it was trading almost 100 points down from the day’s high.   

Despite coming off the day’s high, Nifty has managed to hold its head above the important psychological mark of 15,000 levels. Interestingly, the 15,000 put option has seen an addition of more than 11 lakh shares in the open interest today itself while the total open interest stands at 29,31,075. With this, the maximum open interest concentration on the put side stands at 15,000 strikes. Hence, this is going to be an important level to watch. On the call side, broad call addition can be seen in Nifty from 15,000 to 15,500 levels.   

In the 15,100-call option, the open interest has increased by nearly 10.4 lakh shares, while 15,500 levels, where there is the maximum concentration of open interest, has seen an addition of more than 8 lakh shares.   

Amongst the sectoral indices, Nifty PSU Bank is the top performer as it has gained more than 2 per cent. Talking about the stock-specific action, Natco Pharma is up by nearly 4 per cent with robust volumes on the back of news that the company’s partner, Breckenridge Pharmaceutical Inc. (BPI), has received final approval for its abbreviated new drug application (ANDA) for Everolimus tablets (generic for Afinitor®) from US Food & Drug Administration (USFDA).   

In other stock-specific news, Adani Wind Energy Kutch Three Ltd (AWEKTL), a subsidiary of Adani Green Energy Limited (AEGL), commissioned a 100 MW wind power plant in Kutch (Gujarat), five months ahead of its schedule. This is the fifth project commissioned before schedule by the company over the past 12 months. The stock was trading with modest losses.   

Today, we are observing long build-up in stocks such as LTI, GAIL, LTTS, Gujarat Gas and ONGC, etc. while shorts were formed in Muthoot Finance, TVS Motor, AU Small Finance Bank, Shriram Transport Finance, etc.