Not much changed from Options point of view:
1. 5500 still a mountain to climb with 1.2Cr Calls/16L puts. What's very interesting is the price of 5500CE went down below 10 bucks. Somebody who bought around 10 will make decent profits if Nifty makes run towards 5450-5470
2. 5400 looks ok support with 68L calls/74L puts. If expiry above 5400 is a certainty - more calls need to be covered/puts written there.
2. 5400 looks ok support with 68L calls/74L puts. If expiry above 5400 is a certainty - more calls need to be covered/puts written there.
Nifty futures:
July: 2.58Cr OI down 15% (45L shares cut from OI) ==> Opportunistic short covering?
Aug: 92L OI up 40% (26L shares added to OI)
Banknifty futures:
July: 19.6L OI down 15% (3.8L shares cut from OI)
Aug: 7.9L OI up 68% (3.2L shares added to OI)
If LT delivers good results today look for possible run ups in Capital goods stocks that were beaten down yesterday :
JPASSOCIAT
GMRINFRA
GVKPIL
PUNJLLOYD
EKC
RIIL
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