Informist, Wednesday, Nov 23, 2022
By Vaibhavi
MUMBAI – Positions taken in the options segment of Nifty 50 suggest that traders do not expect the benchmark index to fall much from current levels ahead of the expiry of the November derivatives series on Thursday.
This is evident from the put options of 18250-18000 strike prices sold by traders. However, traders do not expect any strong gains ahead of the expiry either.
Call options of 18300, 18350 and 18400 strike price contracts saw the highest addition in open interest. This suggests that the Nifty 50 is likely to face some resistance in surpassing that zone, analysts said.
If the Nifty 50 does manage to decisively move above 18300 points, it will end the November derivatives series above that level, said Parag Shah, senior technical and derivatives analyst at Edelweiss Broking.
Meanwhile, the volatility gauge India VIX today hit a 14-month low of 11.8750 points. After that, however, the index moved higher and settled at 14.0425 points, up 1.4% from the previous close.
Despite the India VIX rising a bit, it is still near a one-year low, which shows that traders are content with the current level of Nifty 50 and much likely expect the index to settle around that mark on Thursday, Shah said.
Traders also rolled over their positions to the December futures of Nifty 50. But the rollovers are slightly lower than the average of three expiries.
This is because the recent mixed comments by US Federal Reserve officials on the quantum of future rate hikes have led investors to wait and watch. They are waiting for minutes of the Fed's latest monetary policy meeting for clues on the quantum of rate hike that the central bank may deliver at its meeting in December. The minutes are due around midnight today.
On that account, Nifty 50 has been lacklustre for the second straight session today. The index ended 0.1% higher at 18267.25 points.
--Nifty 50 Nov closed at 18269.00, down 12.00 points; 1.75-point premium to spot index
--Nifty 50 Dec closed at 18383.30, up 9.45 points; 116.05-point premium to spot index
--Nifty 50 Jan closed at 18478.65, up 17.55 points; 211.40-point premium to spot index
Total turnover in the futures and options segment of the National Stock Exchange was 113.29 trln rupees, as against 105.27 trln rupees on Tuesday.
Turnover in index options was 108.82 trln rupees, compared with 100.67 trln rupees in the previous session. Total premium turnover of the index and stock options stood at 283.98 bln rupees, compared with 253.95 bln rupees on Tuesday.
ICICI Bank, HDFC Bank, Adani Enterprises, Kotak Mahindra Bank, Adani Ports and Special Economic Zone, Bajaj Finance, Punjab National Bank, Reliance Industries, Axis Bank, and State Bank of India were among the most actively traded underlying stocks. End
Edited by Ashish Shirke
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.
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© Informist Media Pvt. Ltd. 2022. All rights reserved.
Informist, Wednesday, Nov 23, 2022
By Vaibhavi
MUMBAI – Positions taken in the options segment of Nifty 50 suggest that traders do not expect the benchmark index to fall much from current levels ahead of the expiry of the November derivatives series on Thursday.
This is evident from the put options of 18250-18000 strike prices sold by traders. However, traders do not expect any strong gains ahead of the expiry either.
Call options of 18300, 18350 and 18400 strike price contracts saw the highest addition in open interest. This suggests that the Nifty 50 is likely to face some resistance in surpassing that zone, analysts said.
If the Nifty 50 does manage to decisively move above 18300 points, it will end the November derivatives series above that level, said Parag Shah, senior technical and derivatives analyst at Edelweiss Broking.
Meanwhile, the volatility gauge India VIX today hit a 14-month low of 11.8750 points. After that, however, the index moved higher and settled at 14.0425 points, up 1.4% from the previous close.
Despite the India VIX rising a bit, it is still near a one-year low, which shows that traders are content with the current level of Nifty 50 and much likely expect the index to settle around that mark on Thursday, Shah said.
Traders also rolled over their positions to the December futures of Nifty 50. But the rollovers are slightly lower than the average of three expiries.
This is because the recent mixed comments by US Federal Reserve officials on the quantum of future rate hikes have led investors to wait and watch. They are waiting for minutes of the Fed's latest monetary policy meeting for clues on the quantum of rate hike that the central bank may deliver at its meeting in December. The minutes are due around midnight today.
On that account, Nifty 50 has been lacklustre for the second straight session today. The index ended 0.1% higher at 18267.25 points.
--Nifty 50 Nov closed at 18269.00, down 12.00 points; 1.75-point premium to spot index
--Nifty 50 Dec closed at 18383.30, up 9.45 points; 116.05-point premium to spot index
--Nifty 50 Jan closed at 18478.65, up 17.55 points; 211.40-point premium to spot index
Total turnover in the futures and options segment of the National Stock Exchange was 113.29 trln rupees, as against 105.27 trln rupees on Tuesday.
Turnover in index options was 108.82 trln rupees, compared with 100.67 trln rupees in the previous session. Total premium turnover of the index and stock options stood at 283.98 bln rupees, compared with 253.95 bln rupees on Tuesday.
ICICI Bank, HDFC Bank, Adani Enterprises, Kotak Mahindra Bank, Adani Ports and Special Economic Zone, Bajaj Finance, Punjab National Bank, Reliance Industries, Axis Bank, and State Bank of India were among the most actively traded underlying stocks. End
Edited by Ashish Shirke
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.
Informist Media Tel +91 (22) 6985-4000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2022. All rights reserved.
