Futures and Options Market Watch: What does the Futures and Options Market suggest about trade on January 30?
The Nifty 50 put call ratio (PCR) closed at 0.82 for the day.
Nifty saw a short-covering today, where price jumped by 2.58 per cent and OI declined by 15.46 per cent, as reflected by Nifty Bank creating a short-covering, soared by 2.41 per cent and OI declined by 26.45 per cent.
Nifty
Nifty Bank
The Nifty 50 put call ratio (PCR) closed at 0.82 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 1 stands at 21600.
Call Options Data
In the weekly options data analysis, the 22500 strike emerges as a significant resistance level for the Nifty in the short term, boasting the highest Call open interest at 1,11,358 contracts. This level is crucial for traders to monitor. Subsequently, the 22000 strike holds notable open interest with 83,841 contracts, while the 21400 strike follows closely with 68,137 contracts.
Observing Call writing activities, there is substantial activity at the 22400 strike, evidenced by the addition of 42,548 contracts. Additionally, the 22500 and 21800 strikes witness meaningful Call writing, accumulating 37,417 and 34,727contracts, respectively. These levels suggest potential resistance zones.
On the other hand, notable Call unwinding is observed at the 23505 strike, shedding 15,962 contracts. The 21,300 and 21,400 strikes also experience significant Call unwinding, relinquishing 13,910 and 13,747 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 21500 strike, making it a crucial support level, evidenced by 98,523 contracts. The subsequent significant support areas include the 19500 strike with 94,046 contracts and the 21000 strike with 85,176 contracts.
There was substantial Put writing at the 21600 strike, where 68,104 contracts were added. Additionally, meaningful Put writing activity was observed at the 21500 and 21700 strikes, contributing 64,753 and 50,902 contracts, respectively.
Not a single strike price saw any Put unwinding today for the February 1st weekly expiry.
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
|
|
ONGC
|
254.25
|
7,88,59,550
|
8.26 per cent
|
3.60 per cent
|
|
RELIANCE
|
2911.25
|
3,52,69,000
|
6.94 per cent
|
9.12 per cent
|
|
RECLTD
|
504.85
|
3,90,54,000
|
6.55 per cent
|
4.16 per cent
|
|
COALINDIA
|
414.15
|
7,30,59,000
|
6.33 per cent
|
11.43 per cent
|
|
MCX
|
3436.60
|
26,26,000
|
6.12 per cent
|
3.43 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
|
|
AUBANK
|
628.25
|
2,36,67,000
|
-11.43 per cent
|
21.70 per cent
|
|
SBICARD
|
686.50
|
2,32,76,000
|
-6.10 per cent
|
24.55 per cent
|
|
UBL
|
1812.90
|
23,49,600
|
-2.20 per cent
|
3.62 per cent
|
|
MARICO
|
517.35
|
1,13,92,800
|
-1.93 per cent
|
8.18 per cent
|
|
ITC
|
443.30
|
9,53,95,200
|
-1.92 per cent
|
12.82 per cent
|