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Weekly Derivative: Derivative data indicates bullish scenario to continue -
Weekly Derivative: Derivative data indicates bullish scenario to continue
SMC | Published: 10 Jul, 2017  | Source :

Weekly View of the Market


Overall derivative data indicates long rollover and most of the Nifty July futures positions had been rolled with the average of 9530-9545 futures. Derivative data indicates bullish scenario to continue. Nifty has multiple strong supports at lower levels around 9600; 9550 and 9500 spot levels. We can see short covering on every dip as just after start of July series we have been seeing put writers aggressively selling 9500 and 9600 puts, which indicates upside to continue. Put OI concentration has shifted towards 9500 from 9400 after start of July series in recent trading sessions. In the July option contracts we are seeing options open interest building up in 9700 calls followed by 9800 calls and 9500 puts, which means that for this expiry nifty will be well supported around 9500 levels. Market undertone is likely to remain bullish with support of consistent FII buying and short covering. The Implied Volatility (IV) of calls was up and closed at 9.70% while that for put options closed at 10.03%. The Nifty VIX for the week closed at 10.98%. On the technical front, 9600-9550 spot levels is strong support zone and current trend is likely to continue towards 9700-9750. The PCR OI for the week closed up at 1.33 from1.02, which indicates OTM put writing.


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SMC Research, founded in 1990, is India’s leading share and stock broker, provides a wide range of financial services and investment solutions. A blend of extensive experience, diverse talent and client focus has made us the 4th largest broking house in India(Source: Dun and Bradstreet, 2008). Over the years, SMC has expanded its operations domestically as well as internationally. Existing network includes regional offices at Mumbai, Kolkata, Chennai, Cochin, Ahmedabad, Jaipur, Hyderabad, Bangalore plus a growing network of 2100+ offices spread across 425 cities/towns in India.

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Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor accept any liability whatsoever arising from the use of any of the above contents.