Derivative Big Shot-Indian Market View, VOL-019

Learning Quote: Algo trading or algorithmic trading is done using powerful computers. Software Programs designed by traders or companies automatically monitor the market, identify opportunities and execute trades or positions. The degree of manual intervention in algo trading depends on the needs of the broker and the sophistication of the programs. There are some programs that work without any manual intervention. 

Nifty Futures: 14996.75 (+1.94%)

Bank Nifty Futures: 36537.20 (4.04%)

USDINR: 72.64 (-0.08%)

India Vix: 24.17 (-4.20%)

FII Data (Approx.)

Institution/Daily Net Position/Monthly Net Position (Derivatives, In Crores...)

FII (+28739.17cr.) (+50151.55cr.)

DII (+230.44cr) (-17111.23cr.) 

FII Futures (+951cr.) (-1198cr.)

FII Options (+4431cr) (+24537cr.) 

Put Call Ratio/Maximum Pain

NIFTY 1.31/14800

BANK NIFTY 1.17/35600

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Nifty- Option Chain

Maximum CE open interest of 26.69 lakhs contracts was seen at 15500 strikes, which will act as a crucial resistance, while maximum PE open interest of 26 lakh contracts was seen at 14600 strikes. 

Nifty has key support levels for the day are 14770 followed by 14550. If the index moves up, the key resistance levels to watch out for the level of 15200 and 15500.

Bank Nifty- Option Chain

Maximum CE open interest of 9.41 lakhs contracts was seen at 37000 strikes which will act as a crucial resistance, while maximum PE open interest of 7.19 lakh contracts was seen at 36000 strikes. 

Bank Nifty has key support levels for the Bank Nifty are 36100 followed by 35700. If the index moves up, the key resistance levels to watch out for are 36950 and 37400.

Top Pick

As expected, we have seen sharp upside move in Index because after 3.45 PM. Yesterday NSE closed at 11.40 AM and re-opened at 3.30 PM.

Bank Nifty futures looks positive above 36600 and could test 36900---37200. Immediate support at 36000.

Buy HDFC 2700 CE (March) around 110. Stop loss below 50.00. Target 220+

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