Bank Nifty index has marginally slipped from its day’s high to trade at 24,286 level, up by 157 points or 0.65%. Yes Bank has secured the top position on the index to trade at Rs 1,749.7 per share, up by 1.64%. Heavyweight, HDFC Bank is the second top gainer on the index trading at Rs 1,766.3 per share, up by 1.15%.
Only State Bank of India and Bank of Baroda are losing on the Bank Nifty index. Derivative contracts of August series is going to expire on Thursday. Other PSU banks are attempting to pare the losses and move to higher level.
On the options front, Bank Nifty August 24,200 CE has maximum open positions followed by 24,100 witnessing strong selling pressure. On the put side, open positions addition is spread over the strikes of 24,000 to 24,400.
Maximum open interest was seen at the strike of 24,500 for call options and 24,000 for put options. Bank Nifty futures of September series was trading at a premium of 51 points. Going forward, 24,250 and 24,200 are important support levels for the index while on the upside, 24,500 is the important immediate resistance level..
Only State Bank of India and Bank of Baroda are losing on the Bank Nifty index. Derivative contracts of August series is going to expire on Thursday. Other PSU banks are attempting to pare the losses and move to higher level.
On the options front, Bank Nifty August 24,200 CE has maximum open positions followed by 24,100 witnessing strong selling pressure. On the put side, open positions addition is spread over the strikes of 24,000 to 24,400.
Maximum open interest was seen at the strike of 24,500 for call options and 24,000 for put options. Bank Nifty futures of September series was trading at a premium of 51 points. Going forward, 24,250 and 24,200 are important support levels for the index while on the upside, 24,500 is the important immediate resistance level..
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