Markets continue to gain traction backed by strong earning’s momentum
Markets continue to remain on a roll since the beginning of the May series as all the major indices closed in green. Both Nifty & Bank Nifty index managed to close at monthly highs backed by strong buying witnessed across the sectors. Beaten down PSU Bank index gave a sharp recovery, closing ~1.75% higher. Market breadth ended in the favour of the advances with advance-decline ratio closing at 1:1x.
Tracking the derivative data points, Nifty futures added open interest to the tune of ~8.4 lakh shares, indicating a buildup of fresh long positions.
Tracking the Nifty Index Options, marginal hint of short covering was witnessed in major In the money call option strikes, while out of the money call options adding fresh long positions hinted a continued upward momentum for the index.
India VIX index ended the session 3% higher at 12.36.
Tracking the derivative data points, Nifty futures added open interest to the tune of ~8.4 lakh shares, indicating a buildup of fresh long positions.
Tracking the Nifty Index Options, marginal hint of short covering was witnessed in major In the money call option strikes, while out of the money call options adding fresh long positions hinted a continued upward momentum for the index.
India VIX index ended the session 3% higher at 12.36.
| Nifty | +47 points @ 10740 |
| Bank Nifty | +137 points @ 25537 |
| Top 2 F&O Gainer | REPCO & IRB |
| Top 2 F&O Loser | PCJEWELLER & HDIL |
| Most Active Index Option Contract | |
| Call Option | 11000CE, O.I: +5.87 lakh shares |
| Put Option | 10600PE, O.I: +6.63 lakh shares |
| Nifty Max O.I Strikes | 11000CE, 10500PE |
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