F&O Outlook- FIIs covering shorts, but stay vigilant entering expiry week; Nifty support in 16300-16250 range
时间:2024-06-02 03:32:32 阅读(143)
By Ruchit Jain
The NSE Nifty 50 index completed its intermediate correction during last week’s expiry and it then resumed its short-term uptrend. The index crept higher throughout this week and ended the expiry day above 16600. During the week, we witnessed a combination of short covering and fresh long formations which led to positive momentum. The Nifty Bank index too witnessed similar momentum and ended above 36200.
In the Futures segment, foreign investors had a significant amount of short positions and they have started covering the short positions as the global markets have seen a rebound. Their ‘Long Short Ratio’ which was below 17 per cent post last week’s expiry now stands around 40 per cent which clearly indicates short covering by them.
On the other hand, the Client segment continues with its positive bias and has just over 57 per cent of positions in the index futures segment on the long side. In the options segment, the monthly expiry has the highest open interest outstanding in 17000 call options and 16500 put options followed by 16000 put. Interestingly, open interest build up in 16500 put hints that it will be the crucial level and if the index closes below that, then there could be some long unwinding. The next support, in that case, will be seen in the range of 16300-16250.
The data continues to be positive, but traders should be vigilant on market moves and as the index has already seen an up move from 15200 to 16600, one should not rule out some higher volatility in the expiry week.
(Ruchit Jain is the Lead Research at 5paisa.com. FinancialExpress.com does not bear any responsibility for their investment advice. Please consult your investment advisor before investing.)
上一篇:Sebi stand upheld, but SC refuses to halt voting on Reliance Commercial Finance resolution
下一篇:Windfall tax for domestic crude oil reimposed; duty on export of diesel slashed
猜你喜欢
- Motherson, Sun Pharma, Dilip Buildcon, HUL, Lumax Auto Tech stocks in focus
- FirstMeridian Business, IRM Energy, Lohia Corp get Sebi go-ahead to float IPOs
- Sensex, Nifty finish higher on foreign fund inflows; record GST collection in April; log 8th day of rally
- Sebi’s upstreaming diktat may raise concentration risks
- Senco Gold IPO opens- Subscription begins for Rs 405-cr public issue, GMP soars 38%; should you subscribe-
- Nifty could be inching towards 18400-18600 for new all-time high; ICICI Bank, Asian Paints top bets
- Nifty below 17950 could fall to 17650; resistance at 18081; buy these two stocks to pocket gains
- Muthoot Microfin to launch Rs 960 crore IPO on Dec 18
- Sensex closes flat with positive bias, Nifty may rally only after crossing 17626; check support, resistance