NIfty at a critical junction. Data and trend analysis 30th June
Nifty Data Points: 30th June 2022 Expiry day
Open Interest: 74,658 calls (Bullish), 1.58L puts (Bearish) 2x puts than calls
Expiry day activity: - 89,217 calls(Bearish) , 1.19L puts (bullish)
FII Futures:-₹1,296.6 Cr ( Bearish)
FII stock buy/sell: -1138.05
DII Stock buy/sell: 1378.2
PCR: 0.98
MaxPain Strike: 15800
Outlook:
*
Open Interest: 74,658 calls (Bullish), 1.58L puts (Bearish) 2x puts than calls
Expiry day activity: - 89,217 calls(Bearish) , 1.19L puts (bullish)
FII Futures:-₹1,296.6 Cr ( Bearish)
FII stock buy/sell: -1138.05
DII Stock buy/sell: 1378.2
PCR: 0.98
MaxPain Strike: 15800
Outlook:
*
Strong resistance at 15850 - 15900 levels. Market is showing resilience after a couple of gap down openings but intraday recoveries ensuring market is closing higher. However, long term trend is still downtrending. So no long trades till NIFTY convincingly holds 15950 levels or even gives a closing above 16000 with strong volumes.
On the downside
15500 is strong support however if that breaks we can see the market testing previous lows.
As you can see in the chart market is consolidating between 15700 and 15850. Once these levels break on either side we can see a strong move in the said direction.
Risky zone to enter with huge position sizes in a short. I will look for opportunities to sell far OTM calls.
Will definitely go with hedged positions as market is volatile.
No point doing analysis for 7th July option chain as data would be scattered because of expiry day square offs.
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