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Published on 22/08/2019 10:33:04 AM | Source: Geojit Financial Services Ltd

Activity in Put options have percolated down to 10600/10500 strikes - Geojit Financial

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F&O OUTLOOK

REVIEW:

Nifty index futures closed 0.87% lower at 10932.65 on Wednesday. Open interest rose by 5.09 lakh contracts and closed at 1.89 crore contracts. Premium rose marginally to 13.95 from previous day's 11.1. Nifty Call options continued to accumulate shorts which dragged the PCR OI lower to 0.95 from 1.12. India VIX pushed higher and closed at 17.02 from previous day's 16.63.

 

FIIs remain cautious

FIIs persisted with their negative view in derivative segment. Maximum activity was concentrated in index options where the open interest rose mostly in synthetic shorts. Net addition of 32167 contracts in synthetic shorts (Put longs + Call shorts) ensured that net synthetic short exposure in index options closed higher at 56%. In index futures they added exposure in both longs and shorts by 5820 contracts and 6159 contracts respectively. In stock futures their activity continued to showcase a negative bias and they added shorts by 3403 contracts. FIIs had been persistent with a negative view in stock futures segment in the recent past, however they still holds 59% longs in their stock futures positions.

 

NIFTY OUTLOOK:

Supports lowered to 10600/10500 region

Short covering at 11000 Put strike and short build up at 11000 Call strike indicates the negative bias prevailing in the index. Activity in Put options have percolated down to 10600/10500 strikes which suggests that market may be poised for a dip towards that region.

 

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