Options Big Shot-Indian Market View, VOL-006

A deep hearted condolence for those who lost their lives in Uttrakhand. We pray for a speedy recovery for those who are still suffering from this disaster. 

Learning Quote: Bull Call Spread: Bull Call Spread (or Bull Call Debit Spread) strategy is meant for investors who are moderately bullish of the market and are expecting mild rise in the price of underlying. The strategy involves taking two positions of buying Call Option and selling of a Call option. The risk and reward in this strategy is limited.

Nifty Futures : 14946.75 (+0.35%)

Bank Nifty Futures: 35792.00 (+1.24%)

India Vix : 23.42 (1.27%)

Put Call Ratio/Maximum Pain

NIFTY 1.41/14400

BANK NIFTY 1.17/34000

Nifty- Option Chain

Maximum CE open interest of 20.52 lakhs contracts was seen at 15,000 strikes, which will act as a crucial resistance, while maximum PE open interest of 19.68 lakh contracts was seen at 14500 strikes. 

Nifty has key support levels for the day are 14817 followed by 14753. If the index moves up, the key resistance levels to watch out for the level of 14973 and 15038.

Bank Nifty- Option Chain

Maximum CE open interest of 4.71 lakhs contracts was seen at 36,000 strikes which will act as a crucial resistance, while maximum PE open interest of 6.13 lakh contracts was seen at 35,000 strikes. 

Bank Nifty has key support levels for the Bank Nifty are 34740 followed by 34245. If the index moves up, the key resistance levels to watch out for are 35964 and 36460.

Top Pick

Buy Tata Steel 680 CE around 40, Target 50---55, Stop Loss-30.

Buy ICICI PRULI 470 PE above 22 ,Target 30, Stop Loss 17.

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