Options Big Shot-Indian Market View, VOL-014

Learning Quote: Long Condor (Long Call Condor)- It is a neutral strategy with limited risk and a limited profit. The long call condor investor is looking for little or no movement in the underlying. It is a 4 leg strategy that involves buying 2 ITM Calls and 2 OTM Calls at different strike prices with the same expiry date, The strategy is similar to the long butterfly strategy with the difference being in the strike prices selected. The Net debt of premium is the maximum possible loss while the maximum profit will be when stock is between the strike prices of 2 short calls on expiry.

Nifty Futures : 15190.55 (-0.91%)

Bank Nifty Futures: 36930.00 (-0.77%)

India Vix : 21.50 (-1.26%)

Put Call Ratio/Maximum Pain

NIFTY 1.17/14900

BANK NIFTY 0.97/36000

Nifty- Option Chain

Maximum CE open interest of 50.72 lakhs contracts was seen at 15,300 strikes, which will act as a crucial resistance, while maximum PE open interest of 33.17 lakh contracts was seen at 15000 strikes. 

Nifty has key support levels for the day are 15150 followed by 15100. If the index moves up, the key resistance levels to watch out for the level of 15250 and 15300.

Bank Nifty- Option Chain

Maximum CE open interest of 10.89 lakhs contracts was seen at 37,500 strikes which will act as a crucial resistance, while maximum PE open interest of 11.73 lakh contracts was seen at 36,000 strikes. 

Bank Nifty has key support levels for the Bank Nifty are 365 followed by 36200. If the index moves up, the key resistance levels to watch out for are 37700 and 38050.

Top Pick

Buy Bharti Airtel 600 CE above 21. Stop Loss 13. Target 32.00

Hold long BHEL with same stop loss.

RBL Bank... Maintain stop loss below 6.00

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