Derivative Big Shot-Indian Market View, VOL-021

Learning Quote: Assignment in Options- The process to choose the buyer or a seller to honor the right of an Option contract is called Assignment. Buying and Selling of an Option give you the right to buy sell at a predetermined time and a predetermined price. An Assignment is a process wherein the buyer or seller of the Option contract exercises this right to buy or sell. The stock exchanges use trading software to randomly pick a seller or buyer to honor the contract. 

Nifty Futures: 14565.25 (-3.98%)

Bank Nifty Futures: 34889.00 (-4.99%)

USDINR: 74.19 (1.42%)

India Vix: 28.14 (22.94%)

FII Data (Approx.)

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

FII (-8295 cr) (+42044 cr)

DII (-1499 cr) (-16358cr) 

FII Futures (-1272 cr ) (-2251 cr)

FII Options (+9219 cr) (+35378 cr)

Put Call Ratio/Maximum Pain

NIFTY 1.02/14500

BANK NIFTY 0.63/34000

Stocks in the News

Indian Oil Corporation: The company will invest Rs 32,946 crore to expand Panipat refinery capacity to 25 million tonne per year from 15 million tonne per year earlier.

Tata Chemicals: The company appointed Nandakumar S Tirumalai as the Chief Financial Officer after John Mulhall was elevated to Managing Director & CEO of subsidiary Tata Chemicals North America, Inc.

Nifty- Option Chain

Maximum CE open interest of 23.09 lakhs contracts was seen at 14800 strikes, which will act as a crucial resistance, while maximum PE open interest of 15.85 lakh contracts was seen at 14000 strikes. 

Nifty has key support levels for the day are 14250 followed by 14000. If the index moves up, the key resistance levels to watch out for the level of 14800 and 15100.

Bank Nifty- Option Chain

Maximum CE open interest of 3.37 lakhs contracts was seen at 36500 strikes which will act as a crucial resistance, while maximum PE open interest of 4.70 lac contracts was seen at 34000 strikes. 

Bank Nifty has key support levels for the Bank Nifty are 33789 followed by 32919. If the index moves up, the key resistance levels to watch out for are 36629 and 37179.

Top Pick for the day

Buy Maruti futures above 7000. Stop loss below 6850. Target 7200+++

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