Closing Commentary: 10000 mark on the cards for Nifty

India Infoline News Service | Mumbai | October 04, 2017 15:59 IST

Nifty future contract added fresh open interest to the tune of ~15.4 lakh shares, mainly long positions.

In today’s trade, Nifty continued its upward momentum and managed to close above the 9900 mark after 6 trading sessions.

Nifty future contract added fresh open interest to the tune of ~15.4 lakh shares, mainly long positions. Since the start of October expiry Nifty futures has added ~23 lakh shares in open interest i.e ~11%, while the underline price has moved up by 1.5%, clearly indicating a formation of long positions.

Tracking the options front, like yesterday, Nifty 10000CE saw maximum unwinding of short positions, shedding ~3.14 lakh shares in open interest, while Nifty 9900PE saw an addition in open interest to the tune of ~12 lakh shares, majorly short positions. India Vix index tumbled ~5% as the RBI kept the repo rates unchanged.
 
Nifty: +55 points @ 9914
Bank Nifty:  +9 points @ 24113
Top 2 F&O Gainer: BEML LIMITED, JP ASSOCIATES
Top 2 F&O Loser: DISH TV, APOLLO TYRES.
Most Active Index Option Contract:
Call Option:  10000CE, O.I: ↓ ~3 Lakh shares
Put Option: 9800PE, O.I:  ↑ ~9 lakh shares
Nifty Max O.I Strikes: 10000CE, 9700PE
Bank Nifty Max O.I Strikes: 24500CE, 24000PE (5th Oct 2017 Expiry).
 

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