Markets continue to trend higher; Reliance Industries closes at fresh lifetime high

Nifty & Bank Nifty continued to add fresh open interest, consisting of mainly long positions.

Mar 19, 2019 10:03 IST India Infoline News Service

stock market
Indian equity markets continued its upward momentum for the seventh day in a row as both Nifty & Bank Nifty index closed on record highs.

Reliance Industries contributed majority of the gains in Nifty and added fresh long positions as open positions continued to soar higher along with a rise in the stock price.

Nifty PSU Bank index was among the top outperformers gaining ~2% led by strong gains in SBI, BOB & Canara Bank, which added fresh long positions. Mid-cap stocks outperformed the benchmark index after posting days of underperformance. Market breadth ended in the favour of advances with the advance/decline ratio closing at 1:1x. Nifty & Bank Nifty continued to add fresh open interest, consisting of mainly long positions.  

On the options front (March 20, 2018 expiry), the trend of an unwinding of open positions in index call options continued as across the board short covering was witnessed in both Nifty and Bank Nifty ITM Call options, while put option strikes continued to add fresh short positions as indices trend higher.

India VIX closed the week at 16.9, up ~7%.
 
Top 2 F&O Gainers: Bank India & Union Bank
Top 2 F&O Losers: NTPC & Jet Airways
Nifty +70 @11,532
Bank Nifty +172 @29,596768
Most Active Index Option Contract (20h March)
Call Option 11450CE, O.I.:~ +2.69 lakh shares
Put Option 11500PE, O.I.:~ +10.8  lakh shares
Nifty Max O.I Strikes (March 20th 2019) 11600CE, 11500PE

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