On the first trading day of the week, the market is showing a good recovery from the lower levels. Nifty once broke the 18000 level. But today’s real story is Bank Nifty. Bank Nifty has reached a new peak due to the excellent results of ICICI Bank.
Call writers are looking heavy in Nifty. On the other hand, put writers dominate in Bank Nifty. Through the options data, we will tell you which range is visible for this week’s monthly expiry.
Our today’s expert on CNBC-Awaaz’s Future Express show is Jayesh Bhanushali, IIFL Securities. Jayesh will offer cheaper option along with his great calls.
Stocks with FRESH SHORTS Roles in the Futures Market today
IRCTC, COFORGE, MCX और GODREJ PROPERTIES
Stocks with LONG UNWINDING Roles in Futures Market today
IEX, OBEROI REALITY, IBUL HSG और TVS MOTORS
Stocks with FRESH LONGS Rolls in Futures Market today
ICICI BANK, ONGC, CAN BANK और AXIS BANK
In the Nifty on October 28, the highest call writing is visible at the level of 18200.
NIFTY CALL (28 Oct) (CONTRACT)
18000 CE OI 63721 OI CHANGE 36530
18100 CE OI 75563 OI CHANGE 36530
18200 CE OI 155889 OI CHANGE 27592
In the Nifty on October 28, the highest put writing is visible at the level of 17800.
NIFTY PUT (28 Oct) (CONTRACT)
18000 PE OI 93218 OI CHANGE 20966
17900 PE OI 52243 OI CHANGE 6996
17800 PE OI 61482 OI CHANGE 7393
In the Bank Nifty on October 28, the maximum call writing is visible at the level of 41000.
NIFTY BANK CALL (28 Oct) (CONTRACT)
40800 CE OI 35275 OI CHANGE 22285
40900 CE OI 23183 OI CHANGE 14908
41000 CE OI 57507 OI CHANGE 9011
In the Nifty on October 28 series, maximum put writing is visible at the level of 40000.
NIFTY BANK PUT (28 Oct) (CONTRACT)
40700 PE OI 31943 OI CHANGE 30653
40500 PE HI 36488 HI CHANGE 21888
40000 PE OI 67060 OI CHANGE 16012
Jayesh Bhanushali of IIFL Securities Giving his opinion on the market, said that Nifty has seen a correction of 600 points within 4 to 6 days. Nifty is showing support at the level of 18000, so we think that this time the expiry will be seen coming towards the level of 18000 or above. That’s why we at IIFL Securities have advised clients to buy in Nifty and Bank Nifty only.
On the other hand, writing has been seen in Nifty at 18400 and 18500, so we feel that Nifty can see strong resistance on the upside at the level of 18400. But at the same time, in this series in Nifty, expiry can also be seen at the level of 18250, even if it does not stay here, then there is a full expectation of expiry above 18000. He further said that there will be continuous upward momentum in the coming 2-3 sessions.
Jayesh further said that the Bank Nifty will see more bullishness. By the end of this series, Bank Nifty can touch the level of 42000 to 42500.
Today’s Trades by Jayesh Bhanushali of IIFL Securities
AXIS BANK – BUY 860 CE, 20, tgt 40, SL 10
In addition, Jayesh RBL Bank और Bank Of Baroda Recommended shopping. Whereas midcap IT stocks like Coforge and Mindtree should adopt a sell-on-rise strategy.
Today’s Cheap Option: CUB
Jayesh advised to bet only on banking stocks as today’s cheap option. He said one should buy City Union Bank’s October series with strike call of 175 around Rs.4. In this, a target of Rs.8 can be seen till this expiry, in which stoploss should be placed at Rs.2.
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