Futures and Options Market Watch: What does the Futures and Options Market suggest about trade on February 16?
The Nifty 50 put call ratio (PCR) closed at 0.95 for the day.
Nifty saw a short-covering today, where price jumped by 0.46 per cent and OI decreased by 0.48 per cent, as Nifty Bank created a short-covering, soared by 0.76 per cent and OI decreased by 6.59 per cent.
Nifty
Nifty Bank
The Nifty 50 put call ratio (PCR) closed at 0.95 for the day. A PCR above 1 is considered bullish while a PCR below 1 is considered bearish.
Max pain at the end of today's trade for weekly expiry on February 22 stands at 2100.
Call Options Data
In the weekly options data analysis, the 22000 strike emerges as a significant resistance level for the Nifty in the short term, boasting the highest Call open interest at 66,191 contracts. This level is crucial for traders to monitor. Subsequently, the 22600 strike holds notable open interest with 63,100 contracts, while the 23000 strike follows closely with 60,126 contracts.
Observing Call writing activities, there is substantial activity at the 22600 strike, evidenced by the addition of 45,660 contracts. Additionally, the 23500 and 23000 strikes witness meaningful Call writing, accumulating 45,077 and 43,067 contracts, respectively. These levels suggest potential resistance zones.
On the other hand, notable Call unwinding is observed at the 21600 strike, shedding 3,288 contracts. The 21750 and 21650 strikes also experience significant Call unwinding, relinquishing 627 and 348 contracts, respectively. This unwinding could indicate a weakening of resistance at these levels.
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Put Options Data
In the options market for Nifty, notable open interest on the Put side is concentrated at the 21000 strike, making it a crucial support level, evidenced by 94,004 contracts. The subsequent significant support areas include the 21900 strike with 72,183 contracts and the 21700 strike with 57,827 contracts.
There was substantial Put writing at the 21000 strike, where 74,213 contracts were added. Additionally, meaningful Put writing activity was observed at the 21900 and 21700 strikes, contributing 48,895 and 42,365 contracts, respectively.
Not a single Put unwinding took place today in February 22, 2024 contract.
Long build-up Stocks
Following scrips were among stocks that had a long build-up. A rise in open interest (OI) and price suggests a concentration of long holdings.
|
SYMBOL
|
PRICE
|
OI
|
PRICE Change
|
OI Change
|
|
M&M
|
1775.30
|
1,55,68,350
|
6.80 per cent
|
11.38 per cent
|
|
POLYCAB
|
4646.00
|
28,04,300
|
6.21 per cent
|
14.39 per cent
|
|
HINDPETRO
|
576.10
|
3,58,53,300
|
5.85 per cent
|
4.03 per cent
|
|
MPHASIS
|
2710.05
|
32,41,425
|
5.44 per cent
|
0.83 per cent
|
|
FEDERALBNK
|
157.70
|
9,72,85,000
|
4.99 per cent
|
7.27 per cent
|
Short build-up Stocks
A short build-up was seen in these stocks. An increase in OI along with a fall in price points to a build-up of short positions.
|
SYMBOL
|
PRICE
|
OI
|
PRICE Change
|
OI Change
|
|
VEDL
|
269.35
|
15,15,76,900
|
-4.09 per cent
|
43.52 per cent
|
|
MUTHOOTFIN
|
1344.55
|
65,42,800
|
-2.68 per cent
|
22.70 per cent
|
|
SHREECEM
|
26460.00
|
2,35,775
|
-2.02 per cent
|
4.13 per cent
|
|
ABB
|
4495.30
|
15,38,250
|
-1.85 per cent
|
3.81 per cent
|
|
AXISBANK
|
1079.45
|
5,04,30,625
|
-1.74 per cent
|
4.60 per cent
|
Disclaimer: The article is for informational purposes only and not investment advice.