Markets witnessed marginal selling pressure as banking stocks dragged
the indices lower. Nifty IT index shimmered with TCS, Wipro and HCL Tech
gaining 3.5%, 3% and 2.5% each.
PSU Banks were among the laggards with SBI and BOB losing ~1% each.
Benchmark indices snapped its 6-day winning streak as market breadth ended in favour of declines with Advance Decline ratio closing at 2:3x.
Nifty Index futures and added fresh open interest to the tune of ~12.5 lakh. Nifty Bank futures saw an unwinding in open interest to the tune of ~88k shares, marginally hinting an unwinding of long positions.
Tracking the Nifty options, 10500PE has ~76 lakh shares in total open interest, consisting of mainly short position, indicating a formation of a fresh floor price for the index in January F&O expiry.
Across the board, selling was witnessed in out of money call option strikes with 10700CE adding the most open interest build-up.
India Vix ended the day at 14.03 up 1.3%.
PSU Banks were among the laggards with SBI and BOB losing ~1% each.
Benchmark indices snapped its 6-day winning streak as market breadth ended in favour of declines with Advance Decline ratio closing at 2:3x.
Nifty Index futures and added fresh open interest to the tune of ~12.5 lakh. Nifty Bank futures saw an unwinding in open interest to the tune of ~88k shares, marginally hinting an unwinding of long positions.
Tracking the Nifty options, 10500PE has ~76 lakh shares in total open interest, consisting of mainly short position, indicating a formation of a fresh floor price for the index in January F&O expiry.
Across the board, selling was witnessed in out of money call option strikes with 10700CE adding the most open interest build-up.
India Vix ended the day at 14.03 up 1.3%.
| Nifty: | -5 points @ 10632 |
| Bank Nifty: | -87 points @ 25617 |
| Top 2 F&O Gainer: | JINDALSTEEL & ICIL |
| Top 2 F&O Loser: | PAGE & MUTHOOTFIN |
| Most Active Index Option Contract: | |
| Call Option: | 10700CE, O.I: + ~7 lakh shares |
| Put Option: | 10500PE, O.I: + ~ 6.7 lakh shares |
| Nifty Max O.I Strikes: | 11000CE, 10500PE |
| Bank Nifty Max O.I Strikes: | 26000CE, 25000PE (11TH Jan 2018 Expiry) |
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