Futures and Options Market Watch: What does the Futures and Options Market suggest about trade on February 9?
The Nifty 50 put call ratio (PCR) closed at 0.69 for the day.
Nifty saw a short-buildup today, where price slipped by 0.8 per cent and OI increased by 2.86 per cent, as Nifty Bank created a significant short-buildup, dropped by 1.85 per cent and OI increased by 6.54 per cent.
Nifty
Nifty Bank
The Nifty 50 put call ratio (PCR) closed at 0.69 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 15 stands at 21800.
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 1,19,228 contracts. This level is crucial for traders to monitor. Subsequently, the 23000 strike holds notable open interest with 95,597 contracts, while the 23500 strike follows closely with 67,995 contracts.
Observing Call writing activities, there is substantial activity at the 22000 strike, evidenced by the addition of 74,154 contracts. Additionally, the 23000 and 22600 strikes witness meaningful Call writing, accumulating 63,213 and 55,458 contracts, respectively. These levels suggest potential resistance zones.
No Call unwinding is observed in the February 15, 2024 contract.
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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 73,981 contracts. The subsequent significant support areas include the 19500 strike with 56,276 contracts and the 21500 strike with 54,418 contracts.
There was substantial Put writing at the 21000 strike, where 46,848 contracts were added. Additionally, meaningful Put writing activity was observed at the 19500 and 20800 strikes, contributing 39,083 and 36,876 contracts, respectively.
Conversely, Put unwinding took place at the 21550 strike, witnessing a reduction of 1,714 contracts. The 19950 strike and 22150 strike also experienced Put unwinding, 765 and 128 contracts, respectively.
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
|
|
TRENT
|
3855.00
|
40,50,000
|
6.25 per cent
|
9.21 per cent
|
|
HAL
|
3119.10
|
90,86,400
|
5.43 per cent
|
6.67 per cent
|
|
PIIND
|
3484.15
|
26,73,250
|
4.11 per cent
|
31.14 per cent
|
|
TATAPOWER
|
412.25
|
9,67,91,625
|
3.84 per cent
|
2.44 per cent
|
|
SBIN
|
703.50
|
13,56,19,500
|
3.75 per cent
|
7.26 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
|
|
AARTIIND
|
639.00
|
1,40,46,000
|
-4.68 per cent
|
4.84 per cent
|
|
METROPOLIS
|
1675.05
|
10,60,400
|
-4.51 per cent
|
4.00 per cent
|
|
CANFINHOME
|
819.05
|
47,25,825
|
-4.33 per cent
|
10.26 per cent
|
|
MUTHOOTFIN
|
1369.10
|
56,17,150
|
-4.17 per cent
|
3.86 per cent
|
|
PEL
|
894.80
|
1,26,42,750
|
-3.64 per cent
|
1.26 per cent
|
Disclaimer: The article is for informational purposes only and not investment advice.