The Nifty closed at 5422 with a loss of seventeen points. and also the could future was quoting at a premium of five points. The market has been continuously weak since the beginning of could expiry with 2 intermediate rallies of one.5% every within the past twelve trading sessions. The market might see short-term recovery with a robust support existing at 5380-5400 levels.
The sharp fall within the past few weeks has ensured that India VIX has remained flattish at 19-21%. the autumn within the market is mixed with interest rate-sensitive sectors like auto, banking, and infrastructure being in a very downward trend once the RBI policy. Metal stocks have corrected in line with commodities sell-off globally whereas defensive sectors, like FMCG and pharma, have gained, on the opposite hand.
FIIs are web sellers in could to the tune of five,350 crore in index futures and four,000 crore in money whereas DII are web patrons of three,600 crore within the money market until date.
The futures added nearly zero.6 million shares in Nifty open interest whereas there's a gradual increase in open interest in 5300, 5400 and 5500 calls possibility strike costs within the past 3 days whereas place possibility open interest has been shedding in 5400 and 5500 strike costs with no major addition in lower strike costs.
In the could series for the Nifty, highest decision OI is at 5600 strike with eight.5 million shares and highest place OI is at five400 strike with eight.3.million shares.
NIFTY STRATEGY
Given the uncertainty, the market is trading at the lower finish of the vary for the month and with IVs expected to stay range-bound, a cautious read within the close to term is adopted employing a long-strangle strategy. A breakout on either facet is anticipated by expiry. obtain a decision of 5500 strike value at around twenty seven and a 5300 strike value place at around sixteen.
STOCK SPECIFIC:
Buy Infosys Tech decision of strike value 2850 at around twenty five for a maxi-mum holding amount of 5-6 days.
The sharp fall within the past few weeks has ensured that India VIX has remained flattish at 19-21%. the autumn within the market is mixed with interest rate-sensitive sectors like auto, banking, and infrastructure being in a very downward trend once the RBI policy. Metal stocks have corrected in line with commodities sell-off globally whereas defensive sectors, like FMCG and pharma, have gained, on the opposite hand.
FIIs are web sellers in could to the tune of five,350 crore in index futures and four,000 crore in money whereas DII are web patrons of three,600 crore within the money market until date.
The futures added nearly zero.6 million shares in Nifty open interest whereas there's a gradual increase in open interest in 5300, 5400 and 5500 calls possibility strike costs within the past 3 days whereas place possibility open interest has been shedding in 5400 and 5500 strike costs with no major addition in lower strike costs.
In the could series for the Nifty, highest decision OI is at 5600 strike with eight.5 million shares and highest place OI is at five400 strike with eight.3.million shares.
NIFTY STRATEGY
Given the uncertainty, the market is trading at the lower finish of the vary for the month and with IVs expected to stay range-bound, a cautious read within the close to term is adopted employing a long-strangle strategy. A breakout on either facet is anticipated by expiry. obtain a decision of 5500 strike value at around twenty seven and a 5300 strike value place at around sixteen.
STOCK SPECIFIC:
Buy Infosys Tech decision of strike value 2850 at around twenty five for a maxi-mum holding amount of 5-6 days.
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