Derivative View for Monthly Expiry – September 30, 2021
September 30 2021 | Reading Time: 5 Minutes
Indian benchmark indices may open on a flat note today. At 8:15 am IST, SGX Nifty Futures was trading at 17,693, compared with Nifty’s close of 17,708 yesterday, indicating a flat opening for the bourses.
Nifty Futures – LTP 17,708
Nifty touched an all-time high of 17,947 and witnessed some selling pressure at higher levels on weak global cues backed by a rise in 10-year U.S. bond yield. As a result, Nifty shed some gains and made a low of 17,576. However, it reversed its trend and is currently trading 1.3% above its 21-DMA. Yesterday, Nifty had a gap-down opening and remained volatile throughout the session with a negative bias. The benchmark traded in the range of 17,608–17,782 and ended at 17,711.
On the options data front, PCR for monthly contracts expiring September 30 stands at 0.78. From the OI data perspective for monthly contracts expiring September 30, maximum call OI built up was seen at 18,000 strike price, followed by 17,900 strike price, which amounts to 189.65 lakh contracts and 137.34 lakh contracts, respectively. Likewise, maximum Put OI built up was seen for 17,000 strike price, followed by 17,600 strike price, which amounts to 118.79 lakh contracts and 91.68 lakh contracts, respectively. The volatility Index, India Vix, gained 14% to 18.84 in the last week.
After considering the above technical and options data, we expect the index to trade sideways. Currently, 17,700 is a key level to watch in today’s trading session and trading below this level may turn more negative and the index may turn may move toward 17,600. However, we expect the index to trade in the range of 17,700–17,950 in today’s trading session.
BankNifty Futures: LTP – 37,878
BankNifty has started this week with continuation of a bullish momentum that was seen on Thursday last week after the formation of big bullish candles. But a big bearish candle formation on Tuesday has become a point of concern. Yesterday, the index breached its short-term key moving averages (5-EMA) and it may retest 21-EMA in today’s trading session, which is placed near 37,100–37,200. The index is trading above all key moving averages and the momentum indicator RSI plotted on the daily chart is currently placed at 66 in an upward slope.
On the options data front, PCR for contracts expiring September 30 stands at 0.89. From the OI data perspective for monthly contracts expiring September 30, maximum Call OI built up was seen for 38,000 strike price, followed by 39,000 strike price, which amounts to 91.07 lakh contracts and 83.57 lakh contracts, respectively. Likewise, maximum Put OI built up was seen for 37,500 strike price, followed by 37,000 strike price, which amounts to 73.93 lakh contracts and 69.42 lakh contracts, respectively.
After considering the above technical and options data, we expect this sectoral index may trade in the range of 38,200–37,000 with sideways bias.
Bullish setup in stocks such as, TATAPOWER, NTPC, COALINDIA, POWERGRID among others.
Bearish setup in stocks such as ULTRATECHCEM, ACC, BRITANNIA among others.
Nifty Futures – LTP 17,708
Nifty touched an all-time high of 17,947 and witnessed some selling pressure at higher levels on weak global cues backed by a rise in 10-year U.S. bond yield. As a result, Nifty shed some gains and made a low of 17,576. However, it reversed its trend and is currently trading 1.3% above its 21-DMA. Yesterday, Nifty had a gap-down opening and remained volatile throughout the session with a negative bias. The benchmark traded in the range of 17,608–17,782 and ended at 17,711.
On the options data front, PCR for monthly contracts expiring September 30 stands at 0.78. From the OI data perspective for monthly contracts expiring September 30, maximum call OI built up was seen at 18,000 strike price, followed by 17,900 strike price, which amounts to 189.65 lakh contracts and 137.34 lakh contracts, respectively. Likewise, maximum Put OI built up was seen for 17,000 strike price, followed by 17,600 strike price, which amounts to 118.79 lakh contracts and 91.68 lakh contracts, respectively. The volatility Index, India Vix, gained 14% to 18.84 in the last week.
After considering the above technical and options data, we expect the index to trade sideways. Currently, 17,700 is a key level to watch in today’s trading session and trading below this level may turn more negative and the index may turn may move toward 17,600. However, we expect the index to trade in the range of 17,700–17,950 in today’s trading session.
BankNifty Futures: LTP – 37,878
BankNifty has started this week with continuation of a bullish momentum that was seen on Thursday last week after the formation of big bullish candles. But a big bearish candle formation on Tuesday has become a point of concern. Yesterday, the index breached its short-term key moving averages (5-EMA) and it may retest 21-EMA in today’s trading session, which is placed near 37,100–37,200. The index is trading above all key moving averages and the momentum indicator RSI plotted on the daily chart is currently placed at 66 in an upward slope.
On the options data front, PCR for contracts expiring September 30 stands at 0.89. From the OI data perspective for monthly contracts expiring September 30, maximum Call OI built up was seen for 38,000 strike price, followed by 39,000 strike price, which amounts to 91.07 lakh contracts and 83.57 lakh contracts, respectively. Likewise, maximum Put OI built up was seen for 37,500 strike price, followed by 37,000 strike price, which amounts to 73.93 lakh contracts and 69.42 lakh contracts, respectively.
After considering the above technical and options data, we expect this sectoral index may trade in the range of 38,200–37,000 with sideways bias.
Bullish setup in stocks such as, TATAPOWER, NTPC, COALINDIA, POWERGRID among others.
Bearish setup in stocks such as ULTRATECHCEM, ACC, BRITANNIA among others.
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