Options Big Shot-Indian Market View, VOL-007

Learning Quote: Bull Put Spread: Bull Put Spread (or Bull Put Credit Spread) strategy is a Bullish strategy to be used when you’re expecting the price of the underlying instrument to mildly rise or be less volatile. The strategy involves buying a Put Option at different strike prices. The risk and reward for this strategy is limited.

Nifty Futures : 15140.00 (+1.40%)

Bank Nifty Futures: 36031.00 (+1.02%)

India Vix : 23.96 (2.32%)

Put Call Ratio/Maximum Pain

NIFTY 1.52/14500

BANK NIFTY 1.03/34300

Nifty- Option Chain

Maximum CE open interest of 19.39 lakhs contracts was seen at 15,300 strikes, which will act as a crucial resistance, while maximum PE open interest of 20.40 lakh contracts was seen at 15000 strikes. 

Nifty has key support levels for the day are 15065 followed by 15003. If the index moves up, the key resistance levels to watch out for the level of 15215 and 15277.

Bank Nifty- Option Chain

Maximum CE open interest of 9.58 lakhs contracts was seen at 37,000 strikes which will act as a crucial resistance, while maximum PE open interest of 5.6 lakh contracts was seen at 35,500 strikes. 

Bank Nifty has key support levels for the Bank Nifty are 35677 followed by 35385. If the index moves up, the key resistance levels to watch out for are 36385 and 36677.

Top Pick

Buy MINDTREE 1740 CE around 75, Target 90-95, Stop loss 60.

Buy WIPRO 440 CE around 15. Target 22-24. Stop loss 9