Options Big Shot-Indian Market View, VOL-013

Learning Quote: Short Call Butterfly: It is a neutral strategy similar to Long Butterfly but bullish on the volatility. This strategy is a limited risk and limited profit strategy. This strategy consists of two long Calls at a middle strike (or ATM) and one short call each at a lower and upper strike. All the options must have the same expiration date. Also, the upper and lower strikes (or wings) must both be equidistant from the middle strike (or body).

Nifty Futures : 15332.00 (0.00%)

Bank Nifty Futures: 37245.00 (-0.42%)

India Vix : 21.78 (+1.42%)

Put Call Ratio/Maximum Pain

NIFTY 1.28/14800

BANK NIFTY 1.00/36000

Nifty- Option Chain

Maximum CE open interest of 37.90 lakhs contracts was seen at 15,400 strikes, which will act as a crucial resistance, while maximum PE open interest of 24.37 lakh contracts was seen at 15200 strikes. 

Nifty has key support levels for the day are 15280 followed by 15230. If the index moves up, the key resistance levels to watch out for the level of 15380 and 15430.

Bank Nifty- Option Chain

Maximum CE open interest of 12.73 lakhs contracts was seen at 38,000 strikes which will act as a crucial resistance, while maximum PE open interest of 6.88 lakh contracts was seen at 36,500 strikes. 

Bank Nifty has key support levels for the Bank Nifty are 37000 followed by 36230. If the index moves up, the key resistance levels to watch out for are 37500 and 37760.

Top Pick

Buy BHEL 42 CE above 1.25 , stop loss- 0.50, Target- 2.25---2.75

Index option call... We will provide during market hours.