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Equity Futures: Traders sell 19400 calls; Nifty 50 seen below 19300

Informist, Thursday, Aug 17, 2023


By Anshul Choudhary


MUMBAI – Benchmark indices failed to recover from the day’s losses, pushing investors to sell 19400-19500 call options and buy put options at 19400-19500 strike prices. Further, put options of 19300 strike price also witnessed some buying interest.


“Bets in the option chain are looking bearish, and I think market (Nifty 50) can fall up to 19100 points by next expiry,” said Ganesh Angaj, technical head at NVS Brokerage. Few other analysts expect a similar weakness next week, with one analyst even expecting Nifty 50 to fall below 19000 points.


In the previous two sessions, the Nifty 50 had opened lower but was able to recoup losses by the end of session and managed to close above 19400 level on both occasions. However, this did not happen today. The Nifty 50, which opened 0.1% lower, ended down 0.5% at 19365.25 points. This led to bearish sentiments and drove bets for next week’s expiry.


Premiums of call options, expiring next week, at 19400 strike price fell by 60 rupees to 86 rupees. Premium at 19500 strike price fell by 42.3 rupees to 47.8 rupees.


On the put side, premiums at 19400 strike price rose by 35.9 rupees to 115.9 rupees. There are other traders who expect Nifty 50 to fall below 19300 soon, as premiums at this strike price rose by 22.9 rupees to 72 rupees.


The August futures contract of the Nifty 50 today closed at a premium of 18.75 points to the spot index. Open interest in the contract was up 4.9% at 11.35 mln, according to provisional data.


–Nifty 50 Aug closed at 19384.00, down 100.55 points; 18.75-point premium to spot index

–Nifty 50 Sep closed at 19502.00, down 94.15 points; 136.75-point premium to spot index

–Nifty 50 Oct closed at 19595.00, down 88.60 points; 229.75-point premium to spot index


HDFC Bank, Reliance Industries, State Bank of India, REC, ICICI Bank, and Punjab National Bank were among the most actively traded underlying stocks.




Edited by Tanima Banerjee


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Source: Cogencis

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