NIFTY for 27th September
It was a roller-coaster expiry day, but then it was expected. For next month and for next week signals will start developing in next few days.
1) As per provisional figures for today, FIIs and DIIs were both Net buyers. The direction and figures are not very important for me today because you really can't know the intent and direction when you have to square off all your F&O contracts for week and month on that day. So we will let it pass.
2) Option chain data: (Expiry 3rd October) At 10600 strike, we have matching build up- Total Call OI=10.62 lakhs, Call writing= 4.91 lakhs, as against Total Put OI= 6.43 lakhs, Put writing= 4.81 lakhs. On PUT side, highest total OI (10.78 lakhs) and highest fresh Put writing (7.16 lakhs) is at 10500 strike. So for tomorrow, 10500-10600 seems the range.
3) Chart: NIfty now looks locked between 10400 and 10700.Today it got support from 10450 (low = 10466) and resistance at 10600 (high = 10611). Yesterday 10500 was looking as great support and Nifty didn't spend much time below 10500. But today was expiry day so real test of support at 10500 will come in next few days.But yes assoon as Nifty gets near 10380 (high made on last friday) buying will come in. So best strategy is to Buy near 10400 and short above 10650.
All the best. Happy trading.
1) As per provisional figures for today, FIIs and DIIs were both Net buyers. The direction and figures are not very important for me today because you really can't know the intent and direction when you have to square off all your F&O contracts for week and month on that day. So we will let it pass.
2) Option chain data: (Expiry 3rd October) At 10600 strike, we have matching build up- Total Call OI=10.62 lakhs, Call writing= 4.91 lakhs, as against Total Put OI= 6.43 lakhs, Put writing= 4.81 lakhs. On PUT side, highest total OI (10.78 lakhs) and highest fresh Put writing (7.16 lakhs) is at 10500 strike. So for tomorrow, 10500-10600 seems the range.
3) Chart: NIfty now looks locked between 10400 and 10700.Today it got support from 10450 (low = 10466) and resistance at 10600 (high = 10611). Yesterday 10500 was looking as great support and Nifty didn't spend much time below 10500. But today was expiry day so real test of support at 10500 will come in next few days.But yes assoon as Nifty gets near 10380 (high made on last friday) buying will come in. So best strategy is to Buy near 10400 and short above 10650.
All the best. Happy trading.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.