Date-14/12/2022
Stock is in downtrend after a long uptrend,Volume not supporting for up candles,it means for increasing volume for red candles and decreasing volume for green candles.We have support at 3900 and 2950 levels if it breaks stock moves to Rs.2500 odd levels.If you want short wait for green candle with low volumes(As per Volume Spread Analysis).
As per Option chain of Dec-22,strong OI build at CALL Strike 3400 and 3500 (consider as resistance) and PUT Strike 3200(consider as support). In put side no of contracts decreasing day by day and total call contracts 13678 and put contracts 5790.
As per above data stock clearly shows weakness and OI data indicates bearishness.whoever wants to buy stock wait for some time add in tranches.
Stock is in downtrend after a long uptrend,Volume not supporting for up candles,it means for increasing volume for red candles and decreasing volume for green candles.We have support at 3900 and 2950 levels if it breaks stock moves to Rs.2500 odd levels.If you want short wait for green candle with low volumes(As per Volume Spread Analysis).
As per Option chain of Dec-22,strong OI build at CALL Strike 3400 and 3500 (consider as resistance) and PUT Strike 3200(consider as support). In put side no of contracts decreasing day by day and total call contracts 13678 and put contracts 5790.
As per above data stock clearly shows weakness and OI data indicates bearishness.whoever wants to buy stock wait for some time add in tranches.
Comment:
Date-10/01/2023
CMP-3167.55
OI Data Update:
total calls-6,868 and total puts-3,383
Put Call Ratio=0.49 it indicates bearishness.
As per JAN -2023 Option Chain
Resistance:
Call Strikes= 3,250(1,477 contracts) and 3400(1,069 contracts)
Support:
Put Strikes=3,200(729 contracts) and 3,000(429 contracts)
Call Writing more compare to Put Unwinding indicates bearishness.
Stock Increasing at low volume but stock fall on 10/01/2023 with average volume and stock trying to move downside.
CMP-3167.55
OI Data Update:
total calls-6,868 and total puts-3,383
Put Call Ratio=0.49 it indicates bearishness.
As per JAN -2023 Option Chain
Resistance:
Call Strikes= 3,250(1,477 contracts) and 3400(1,069 contracts)
Support:
Put Strikes=3,200(729 contracts) and 3,000(429 contracts)
Call Writing more compare to Put Unwinding indicates bearishness.
Stock Increasing at low volume but stock fall on 10/01/2023 with average volume and stock trying to move downside.
stock price closing-3281.20
As per above analysis stock touched near support Rs.3094 and bounced back to upside in day candles with low volume but on December expiry day moved from 3163 to 3490 due to market heavily volatile and price closed as per option chain analysis.Usually I sold stock options and square off positions before one week and roll over to next months because physical delivery.it is a huge risk.
Whoever wants to buy this stock wait for clear direction.Stock is in downtrend.