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Nifty Future Trend

The India VIX shed 4.78% to 22.66 compared to its previous close of 23.80 on Wednesday. Currently, the 50-share S&P CNX Nifty is trading at 6,025.35, after rising 43.25 points or 0.72%. Nifty October futures saw an addition of 1.55% or 0.41 million (mn) units, taking the total outstanding open interest (OI) to 27.23 mn units. For Nifty calls, 6100 strike price (SP) from the October series was the most active call with a contraction of 0.01 mn or 0.18%.
Among Nifty puts, 6000 SP from the October month expiry was the most active put with an addition of 0.53 mn or 6.60%.  The maximum Call OI outstanding was at 6100 SP (6.84 mn) and that for Puts at 6000 SP (8.72 mn). The respective Support and Resistance levels are: Resistance 6,045.17 Pivot Point 6015.03 Support 5,995.22.

The Nifty closed at 5982.10.Nifty future (Oct.) closed at 6007.80 i.e. at a premium of 25.70 points vs. 16.85 points and added 396250 shares in open interest.

The Nifty future (Nov.) closed at 6032.85 i.e. at a premium of 50.75 points vs. 45.40 points and added 411700 shares in open interest.

Interpretation: The Nifty future prices ended in the red terrain along with an overall addition of open interest and increase in the cost of carry, this is an indication some longs being built at lower levels.

Stocks Option Trend

On the call options front we have seen addition of open interest at strike price of 6000, 6100 and 6200.
On the put options front we have seen some shredding of open interest in today's trading session at strike price of
6000 and 5900.
In October Series addition of open interest on the calls front is seen at strike price of 6100-6300 indicating it as Resistance zone on the upside whereas on the put options front we have seen some shredding of open interest at strike price of 6000-5900 in today's trading session indicating caution among the put writers but still it continues to be a good support zone from the puts front.

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