Nifty Tomorrow Technical View
The Nifty closed at 5865.75. Nifty future (Nov.) closed at 5873.25 i.e. at a premium of 7.50 points vs. 6.55 points and shredded -2917450 shares in open interest. The Nifty future (Dec.) closed at 5886.10 i.e. at a premium of 20.35 points vs. 28.75 points and added 4867600 shares in open interest.
Interpretation: The Nifty future prices ended in the red territory along with overall addition of open interest and increase in the cost of carry, this is an indication of some long built up at lower levels. The Historical Volatility of Nifty future is at 25.55% vs. 25.76% and the India Volatility Index (VIX) is at 24.68% vs.
23.26%. Nifty OI PCR is at 0.97 vs. 1.01 and the Volume PCR is at 1.11 vs. 1.08.
On the call options front we have seen addition of open interest in Dec. Series at strike price of 6000 and 6200. On the put options front we have seen addition of open interest in Dec. Series at strike price of 5600, 5800 and 5900.
OI Concentration Chart Interpretation: From the OI Chart we can see that in Dec. Series addition of open interest on the calls front is seen at strike price of 6000-6200 indicating it as the Resistance zone on the upside whereas on the put options front we have seen addition of open interest at strike price of 5800-5600 indicating it as good support zone on the downside.
NIFTY-50 Stocks
ACC
RESISTANCE - 1060
SUPPORT - 968
AMBUJA CEMENT
RESISTANCE - 153
SUPPORT - 135
BAJAJ AUTO
RESISTANCE -1665
SUPPORT- 1545
BHARTI AIRTEL
RESISTANCE - 345
SUPPORT - 300
