Derivative View for Weekly Expiry – Aug 12, 2021
August 12 2021 | Reading Time: 5 Minutes
Indian benchmark indices may open on a flat to positive note today. At 8:15 am IST, SGX Nifty Futures were trading at 16,322, compared with Nifty’s close of 15,282 yesterday, indicating a positive opening for the bourses.
Nifty Futures – LTP 16,283
Nifty has been volatile and trading in a sideways range in the last five trading sessions. From the last three trading sessions, Nifty has been trading in a broad zone of 16,162–16,359. Yesterday, Nifty opened on a positive note; however, it quickly turned volatile and rebounded from intraday low to end flat.
On the options data front, PCR for weekly contracts expiring August 12 stands at 1.77. From the OI data perspective for weekly contracts expiring August 12, maximum Call OI built up was seen for 16,300 strike price, followed by 16,400 strike price, which amounts to 115 lakh contracts and 112.78 lakh contracts, respectively. Likewise, maximum Put OI built up was seen for 16,200 strike price, followed by 16,000 strike price, which amounts to 90.47 lakh contracts and 74.83 lakh contracts, respectively. The volatility Index, India Vix, cooled down to 12.71.
After considering the above technical and options data, the index is in a bullish trend, and we advise that investors follow buy on dip strategy. We expect the index to trade in the range of 16,150–16,350.
BankNifty Futures: LTP – 35,917
BankNifty started this week on a positive note but yesterday’s is a matter of concern. Yesterday, it formed a big bearish engulfing candle with the formation of lower-high and lower-low price structure on the daily chart. Even the Momentum indicator RSI is tilted toward the downside.
On the options data front, PCR for contracts expiring August 12 stands at 1.03. From the OI data perspective for weekly contracts expiring on August 12, maximum Call OI built up was seen for 36,000 strike price, followed by 37,000 strike price, which amounts to 99.87 lakh contracts and 74.19 lakh contracts, respectively. Likewise, maximum Put OI built up was seen for 35,500 strike price, followed by 35,000 strike price, which amounts to 68.84 lakh contracts and 67.12 lakh contracts, respectively.
After considering the above technical and options data, we expect the index to trade in the sideways zone and advise avoiding this index trading from an expiry point of view. However, sustainable trading above 36,000–36,200 may turn positive.
Bullish setup in stocks such as VEDL, SIEMENS, ALKEM among others.
Bearish setup in stocks such as MANAPPURAM, LUPIN, AUROPHARMA among others.
Nifty Futures – LTP 16,283
Nifty has been volatile and trading in a sideways range in the last five trading sessions. From the last three trading sessions, Nifty has been trading in a broad zone of 16,162–16,359. Yesterday, Nifty opened on a positive note; however, it quickly turned volatile and rebounded from intraday low to end flat.
On the options data front, PCR for weekly contracts expiring August 12 stands at 1.77. From the OI data perspective for weekly contracts expiring August 12, maximum Call OI built up was seen for 16,300 strike price, followed by 16,400 strike price, which amounts to 115 lakh contracts and 112.78 lakh contracts, respectively. Likewise, maximum Put OI built up was seen for 16,200 strike price, followed by 16,000 strike price, which amounts to 90.47 lakh contracts and 74.83 lakh contracts, respectively. The volatility Index, India Vix, cooled down to 12.71.
After considering the above technical and options data, the index is in a bullish trend, and we advise that investors follow buy on dip strategy. We expect the index to trade in the range of 16,150–16,350.
BankNifty Futures: LTP – 35,917
BankNifty started this week on a positive note but yesterday’s is a matter of concern. Yesterday, it formed a big bearish engulfing candle with the formation of lower-high and lower-low price structure on the daily chart. Even the Momentum indicator RSI is tilted toward the downside.
On the options data front, PCR for contracts expiring August 12 stands at 1.03. From the OI data perspective for weekly contracts expiring on August 12, maximum Call OI built up was seen for 36,000 strike price, followed by 37,000 strike price, which amounts to 99.87 lakh contracts and 74.19 lakh contracts, respectively. Likewise, maximum Put OI built up was seen for 35,500 strike price, followed by 35,000 strike price, which amounts to 68.84 lakh contracts and 67.12 lakh contracts, respectively.
After considering the above technical and options data, we expect the index to trade in the sideways zone and advise avoiding this index trading from an expiry point of view. However, sustainable trading above 36,000–36,200 may turn positive.
Bullish setup in stocks such as VEDL, SIEMENS, ALKEM among others.
Bearish setup in stocks such as MANAPPURAM, LUPIN, AUROPHARMA among others.
- Follow us :
