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Daily Derivatives: Call writing at 10200-10300 will act as stiff resistance in short term - IndiaNotes.com
Daily Derivatives: Call writing at 10200-10300 will act as stiff resistance in short term
Way2wealth | Published: 24 Oct, 2017  | Source : IndiaNotes.com

Market Round Up


- Yesterday it was quite a volatile session for Indian markets where broader indices opened on positive note. On higher side, nifty saw stiff resistance around 10200 levels and profit booking in first half of trades dragged nifty in negative zone. However, indices pulled back in second half and managed to close around 10184 levels up by 38 points.


- From lower levels, long positions were added in nifty fut. whereas bank nifty and nifty IT saw short covering. Nifty fut. added almost 8.77 lakh shares in OI and closed at 5 points premium.


- Short covering based support was seen in tyre, realty, power and cement sector. Major unwinding was seen in stocks like relinfra, dcbbank, relcapital, bergepaint, beml and colpal.


- Fresh buying positions were initiated in stocks like pfc, vguard, igl, rblbank, mgl and ramcocem.


- Selected short accumulation was seen in stocks like ceat, dishtv, havells, axisbank, ioc and hdfc. Markets are expected to open on flat note in today session and thereafter will continue to trade in narrow band with bit of positive biasness. On lower end, maximum put writing has been seen at 10000 strike option and that will prove as strong support whereas on higher side call writing at 10200-10300 will act as stiff resistance in short term.

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