F&O update: Nifty's immediate resistance still at 9,700
Nifty gradually moved upward during the first half of Thursday’s trading session. The index was trading at 9,677 level, higher by 39 points as of 1116 hours. ITC and HDFC twins were contributing the most to Nifty’s gains.
Nifty Futures of July series was trading at 9,677 level, almost at the same level as spot Nifty. However, Nifty Futures of July and August series were trading at premiums of 28 and 52, respectively.
There were interesting trades in the Nifty Options. Nifty July 9900 CE has emerged as the active strike price at this moment. It witnessed the maximum addition of contracts in its open interest. Nifty July 9900 CE was trading at Rs 14.75 per share, up by Rs 3.2 per share or 27.7%. Also, there is long built up positions seen in most of the out-the-money calls for the Nifty50 index.
Investors in the market seem to be selling Nifty put options in the first half of Thursday, reflecting a bullish undertone. Nifty July 9600 PE witnessed the maximum addition of contracts in its open interest. The option was trading at Rs 63.5 per share down by Rs 14.4 per share or 18.49%.
Going forward, the immediate resistance level for Nifty may be still placed at 9,700 level, while the immediate support level may be placed at 9,650 level.
Nifty Futures of July series was trading at 9,677 level, almost at the same level as spot Nifty. However, Nifty Futures of July and August series were trading at premiums of 28 and 52, respectively.
There were interesting trades in the Nifty Options. Nifty July 9900 CE has emerged as the active strike price at this moment. It witnessed the maximum addition of contracts in its open interest. Nifty July 9900 CE was trading at Rs 14.75 per share, up by Rs 3.2 per share or 27.7%. Also, there is long built up positions seen in most of the out-the-money calls for the Nifty50 index.
Investors in the market seem to be selling Nifty put options in the first half of Thursday, reflecting a bullish undertone. Nifty July 9600 PE witnessed the maximum addition of contracts in its open interest. The option was trading at Rs 63.5 per share down by Rs 14.4 per share or 18.49%.
Going forward, the immediate resistance level for Nifty may be still placed at 9,700 level, while the immediate support level may be placed at 9,650 level.
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