Thursday 12 October 2017

Closing Commentary Bulls Regain The Lost Momentum

Posted by suhani varma on Thursday, October 12, 2017 with No comments



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In today’s trade, markets witnessed a sharp rally with Nifty futures ending the day above 10100. Nifty futures witnessed fresh long formation during the day with an increase in open interest to the tune of 5.62%.

Bank Nifty too witnessed a steep surge mainly on account of short covering with the index surging 1.2% and open interest deckling by 6.05% which also corresponded with the weekly expire of Bank Nifty.
On the options front short covering was witnessed in Nifty ATM strikes as call writers had to run for cover. 10000CE and 10100CE witnessed a decline of ~ 12 lakh and ~9 lakh shares respectively. Put writing was seen in OTM strikes with 10000PE and 9900PE adding ~13 lakh and ~10 lakh shares respectively. Highest O.I in the current series has shifted to 10100CE and 10000PE indicating a higher range for the markets.


Nifty: +111points @ 10096
Bank Nifty: +256 points @ 24361
Top 2 F&O Gainer: NBCC, JINDAL STEEL& POWER
Top 2 F&O Loser: JAIN IRRIGATION, BANK OF INDIA
Most Active Index Option Contract: 
Call Option: 10100CE, O.I: ↓ ~9 lakh shares
Put Option: 10000PE, O.I: ↑ ~13 lakh shares
Nifty Max O.I Strikes: 10100CE, 10000PE
Bank Nifty Max O.I Strikes: 24500CE, 24010PE (18th Oct 2017 Expiry).

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