Latest news with #DhirenderSinghBisht
Hans India
19-05-2025
- Business
- Hans India
Options data points to range-bound trading
Implied Volatility (IV) fell from over 26 to 15.77 on 26,000CE and IV on highest Put base eased from 54.88 to 15.07 level. Significant IV fall indicates returning stability to the market and less risk of large price swings when compared to the last week. The latest options data on NSE after last Friday session is indicating a narrow trading range as the resistance level marginally declined by 200 points to 26,000PE, while the support level significantly rose by 4,350 points to 25,000PE. The 26,000CE has highest Call OI followed by 26,800/ 25,500/ 26,500/ 25,000/ 24,800/ 25,800 strikes, while 26,800/ 26,500/ 25,900/ 25,100 strikes record heavy to reasonable build-up of Call OI. Modest Call OI fall is visible at select deep ITM strikes. Coming to the Put side, maximum Put base is seen at 25,000PE followed by 24,500/ 24,700/ 24,800/23,800 strikes. Further, 25,000/24,700/ 24,000/ 23,700/ 22,100 strikes witnessed marginal addition of Put OI. Few deep OTM Put strikes recorded modest OI fall. Dhirender Singh Bisht, associate vice-president (technical research-equity) at SMC Global Securities Ltd, said: 'In the derivatives market, prominent Call Open Interest for Nifty seen at the 25,500 and 25,000 strikes, while the notable Put Open Interest was at the 25,000 strike. In upcoming session 25,000 level will play an important role. For Bank Nifty, the prominent Call Open Interest was seen at the 55,500 and 56000 strikes, whereas notable Put Open Interest at the 55,000 strike.' Due to major volatility during the last week, highest Put concentration was placed at near ATM 25,000 Put strike, which seems to be part of portfolio hedging. Call OI is distributed across the ATM and OTM strikes with immediate Call base placed 24,500 strike. 'The market rallied on the following news of a ceasefire between India and Pakistan. Additional factors such as expectations of a trade deal between India and the US, along with FII buying in equities during May, also supported the market. Nifty closed the week with a gain of over four per cent, while Bank Nifty rose by more than 3.25 per cent during the same period. Leading sectors included Indian defence, capital markets, and Indian railways, while underperformers were chemicals, pharma, and FMCG,' added Bisht. For the week ended May 16, 2025, BSE Sensex closed at 82,330.59 points, gauge jumped 2,876.12 points or 3.61 per cent, from the previous week's (May 9) closing of 79,454.47 points. NSE Nifty too surged 1,011.8 points or 4.21 per cent to 25,019.80 points from 24,346.70 points a week ago. India VIX fell 2.03 per cent to 16.55 level. A move above 24,500 may extend the strength in the market towards 24,800. India VIX has risen sharply in last few days and moved near 22 per cent level against the average of 14 per cent level, which we saw since October 2024. The surging India VIX is signaling protection buying for the portfolio through index options against any eventuality. VIX will cool-off this week and market will look for decent recovery. Bank Nifty Bank Nifty NSE's banking index closed the week at 55,354.90 points, a hefty recovery of 1,759.65 or 3.28 per cent from the previous week's closing of 53,595.25 points.
Hans India
12-05-2025
- Business
- Hans India
Put OI bases shifting to lower bands
The resistance level marginally rose by 200 points to 26,200PE, while the support level fell by 3,300 points to 20,650PE. The latest options data is indicating wider trading range with negative bias for the week ahead. 26,200CE has highest Call OI followed by 25,000/ 26,100/ 25,500/ 24,500/ 24,000/ 24,100 strikes, while 24,000/ 24,100/ 24,050/ 24,600 strikes recorded reasonable addition of Call OI. And no OI fall is seen at any strike. Coming to the Put side, maximum Put OI is visible at 20,650 followed by 24,000/ 22,000/ 22,500/ 23,000/ 22,500/ 23,500 strikes. Further, 20,650/ 24,000/ 24,050/ 23,000 strikes witnessed moderate build-up of Put OI. Modest Put OI fall is seen at deep Put ITM/OTM strikes. Dhirender Singh Bisht, associate vice-president (technical research-equity) at SMC Global Securities Ltd, said: 'In the derivatives market, prominent Call Open Interest for Nifty seen at the 24,000 and 24,500 strikes, while the notable Put Open Interest was at the 24,000 strike. In upcoming session 24,000 level will play an important role in upcoming session.' 'The Indian market declined as geopolitical tensions between India and Pakistan escalated. Uncertainty over a potential conflict in the coming days has made investors nervous. However, positive news last week regarding a trade deal between the US and UK had a favourable impact on the Auto sector. Realty, PSU banks, and pharma turned out to be the major losers on the weekly chart, whereas Auto, Media, and Consumer Durables managed to close in the green,' added Bisht. For the week ended May 9, 2025, BSE Sensex closed at 79,454.47 points, a drop of 1,047.52 points or 1.30 per cent, from the previous week's (May 2) closing of 80,501.99 points. NSE Nifty too declined 338.7 points or 1.39 per cent to 24,346.70 points from 24,039.35 points a week ago. Bisht forecasts: 'Traders are advised to closely monitor news developments in the upcoming sessions for any signs of escalation or de-escalation in tensions between India and Pakistan. In the upcoming sessions, Nifty is expected to face resistance near 24,400, with support around 23,600.' 'Implied Volatility for Nifty's Call options settled at 18.11 per cent, while Put options conclude at 18.72 per cent. The India VIX, a key market volatility indicator, closed the week at 21.01 per cent. The Put-Call Ratio of Open Interest (PCR OI) for the week was 1.21,' said Bisht. Bank Nifty Bank Nifty NSE's banking index closed the week at 53,595.25 points, a fall of 1,520.10 or 2.75 per cent from the previous week's closing of 55,115.35 points. 'For Bank Nifty, the prominent Call Open Iwas seen at the 54,000 strike, whereas notable Put Open Interest at the 54,000 and 53,500 strikes,' remarked Bisht.
Hans India
05-05-2025
- Business
- Hans India
Options data denotes wider trading range
The latest options data on NSE is pointing to a rise of 1,000 points in resistance level to 26,000CE and 500 points in support level to 24,000PE. The Implied Volatility (IV) marginally eased on Put side, while it rose 25 per cent at 26,000CE, which has the highest Call OI base. Higher IV indicates greater chances of volatility of specific strike. The 26,000CE has highest Call OI followed by 25,000/ 26,100/ 25,400/ 25,100/ 25,900/ 24,700/ 24,50024,600 strikes, while 25,000/ 26,000/ 25,500/ 25,800/ 24,500/ 24,400 strikes recorded heavy build-up of Call OI. And negligible Call OI fall is visible at select deep Call ITM strikes. Coming to the Put side, maximum Put OI is seen at 24,000PE followed by 23,500/ 24,300/ 24,400/23,800 strikes. Further, 24,000/ 24,200/ 24,300/ 23,500 strikes witnessed modest addition of Put OI. And marginal fall in Put OI is visible at few Put OTM strikes. Dhirender Singh Bisht, associate vice-president (technical research-equity) at SMC Global Securities Ltd, said: 'In the derivatives market, prominent Call Open Interest for Nifty seen at the 24,500 and 25,000 strikes, while the notable Put Open Interest was at the 24,000 strike. For Bank Nifty, the prominent Call Open Interest was seen at the 55,500 strike, whereas notable Put Open Interest at the 55,000 strike.' 'Both broader indices, Nifty and Bank Nifty, closed in the green, witnessing gains of around one per cent and approximately 0.85 per cent, respectively. Despite persistent geopolitical tensions between India and Pakistan that continue to pressure market sentiment, positive earnings reports and optimism over a potential India-US trade deal have contributed to foreign institutional investors making net inflows last week, supporting a positive sentiment. Media, small-cap, and metal sectors came under the most pressure and ended as the top losers, while oil & gas, realty, and infrastructure sectors emerged as the top gainers,' added Bisht. For the week ended May 2, 2025, BSE Sensex closed at 80,501.99 points, a further rise of 1,289.46 points or 1.62 per cent, from the previous week's (April 25) closing of 79,212.53 points. NSE Nifty too moved higher by 307.35 points or 1.27 per cent to 24,346.70 points from 24,039.35 points a week ago. Bisht forecasts: 'Oscillators indicate that the market is showing signs of tiredness, suggesting potential consolidation at higher levels. Traders are advised to closely monitor position build-up during the week, as it could further drive market movement. Until then, a cautious approach is recommended. In the upcoming sessions, Nifty is expected to face resistance near 24,600, with support around 23,800.' India VIX marginally rose 0.19 per cent to 18.26 level. 'Implied Volatility for Nifty's Call options settled at 16.19 per cent, while Put options conclude at 17.12 per cent. The India VIX, a key market volatility indicator, closed the week at 18.22 per cent. The Put-Call Ratio of Open Interest (PCR OI) for the week was 1.56,' remarked Bisht. Bank Nifty Bank Nifty NSE's banking index closed the week at 55,115.35 points, a modest rebound of 451.30 or 0.82 per cent from the previous week's closing of 54,664.05 points.
Hans India
28-04-2025
- Business
- Hans India
OI bases move up marginally to higher bands
The resistance level declined by 1,250 points to 25,000CE and the support level too eased marginally 350 points to 23,500PE as per latest options data on NSE. The 25,000CE recorded highest Call OI followed by 26,100/ 26,000/ 24,300/ 25,200/ 25,800/ 24,800/ 24,700 / 24,100 strikes, while 24,500/ 24,400/ 25,000/ 24,300 strikes recoded reasonable addition of Call OI. Negligible Call OI fall is visible on select deep ITM strikes. Maximum Put OI is seen at 23,500PE followed by 23,000/ 23,200/ 23,800/ 23,900/ 23,300/ 22,900 strikes. Further, 23,900/ 23,800/ 23,500/ 23,200/ 22,500/ 23,800 strikes posted moderate build-up of Put OI. Moderate Put OI declined at few deep Put ITM strikes. Dhirender Singh Bisht, associate vice-president (technical research-equity) at SMC Global Securities Ltd, said: 'Looking at Nifty's derivatives data, the highest Call Open Interest were observed at the 24,500 and 24,200 strikes, while Put writers were active at the 24,000 and 23,800 strikes.' 'Due to the rise in geopolitical tension after the terror attack in Pahalgam, the Indian market faced pressure at higher levels and closed with minor gains on a weekly basis. The major gainers on the weekly charts were IT, Auto, and Midcap shares, whereas media, consumer durables, and PSEs were the major losers,' added Bisht. For the week ended April 25, 2025, BSE Sensex closed at 79,212.53 points, a further recovery of 659.33 points or 0.83 per cent, from the previous week's (April 18) closing of 78,553.20 points. NSE Nifty too marginally higher by 187.70 points or 0.78 per cent to 24,039.35 points from 23,851.65 points a week ago. Bisht forecasts: 'Traders should closely monitor these key zones and Open Interest trends for further cues on market direction. For the upcoming sessions, Nifty has support at 23,800 followed by 23,500 whereas resistance is placed at 24400-24500 zone.' India VIX rose 5.58 per cent to 17.16 level. Implied Volatility (IV) for Nifty's Call options settled at 15.03 per cent, while Put options concluded at 15.94 per cent. The India VIX, a key indicator of market volatility, concluded the week at 16.25 per cent. The Put-Call Ratio of Open Interest (PCR OI) stood at 1.49 for the week. 'The Nifty rollover rate has slightly up 79.08% from 76.09% last month, but remains below the three-month average of 80.15 per cent, indicating steady momentum for the May series. In contrast, Bank Nifty rollovers stand at 75.05 per cent, down from 76.98 per cent last month and below the three-month average of 79.25 per cent, reflecting comparatively weaker momentum,' remarked Bisht. Bank Nifty Bank Nifty NSE's banking index closed the week at 54,664.05 points, a modest rebound of 373.85 or 0.68 per cent from the previous week's closing of 54,290.20 points.
