Nifty Future Review
- The Nifty closed at 5828.70. Nifty future (Sep.) closed at 5841.90 i.e. at a premium of 13.20 points vs. discount of 0.85 points and added 587250 shares in open interest.
- The Nifty future (Oct.) closed at 5855.10 i.e. at a premium of 26.40 points vs. 9.75 points and added 405400 shares in open interest.
- Interpretation: The Nifty future prices ended in the red terrain along with overall addition of open interest and increase in the cost of carry, this is an indication of some longs being built at lower levels.
Stock Option Review
- On the call options front we have seen addition of open interest in September series at strike price of 5900, 6000 and 5800.
- On the put options front we have seen addition of open interest in September Series at strike price of 5800 and 5900.
- OI Concentration Chart Interpretation: From the OI Chart we can see that in September Series addition of open interest on the calls front is seen at strike price of 5900 indicating it as Resistance on the upside whereas on the put options front we have seen addition of open interest at strike price of 5800 indicating it as immediate support on the downside .
