Latest news with #DhirenderSinghBisht
Hans India
14 hours ago
- Business
- Hans India
Resistance drops 1,500pts amid weak PCR
Thelatest options data on NSE is pointing to a 1,500 points fall in resistance level as highest Put Open Interest (OI) is at 25,000CE, while the support level remained at 24,000PE for a third consecutive week. The 25,000CE has highest Call OI followed by 25,200/ 25,500/ 25,100/ 25,300/ 24,900/ 26,500/ 25,600/ 24,850/ 25,600/ 26,100/ 27,000/ 27,400 strikes, while 25,000/ 24,900/ 24,800/ 25,200/ 25,300/ 25,700/ 25,800/ 24,800 strikes recorded hefty build-up of Call OI. Very minute Call OI fall is visible on 2 deep Call OTM strikes, select deep ITM strikes. Coming to the Put side, the maximum Put OI is seen at 24,000PE followed by 24,500/24,200/ 24,300/ 24,600/ 24,700/ 24,800/ 24,900 strikes. Further, 24,700/ 24,600/ 24,850/ 24,300 strikes recorded reasonable addition of Put OI. Put ITM strikes from 25,000PE inwards witnessed moderate Put OI fall. Dhirender Singh Bisht, associate vice-president (technical research-equity) at SMC Global Securities Ltd, said: 'In the derivatives market, prominent Call Open Interest for Nifty seen at the 25,000 and 25,200 strike, while the notable Put Open Interest was at the 24,500 and 24,700 strike. For Bank Nifty, the prominent Call Open Interest was seen at the 57,000 strike, whereas notable Put Open Interest at the 56,000 strike.' The Implied Volatility (IV) fell over 50 per cent to 8.89 level for Call highest OI base, while it was hovering at 15 level, a marginal decrease from previous week, at highest Put OI base. It's revealing wide-range trading with reasonable volatility for the week ahead. 'The market had a bit of a roller-coaster ride last week. Weak earnings, especially from IT companies, pulled the market down early on. But things turned around as hopes grew for a trade deal between India and the US, thanks to the recently announced trade deal between US and Japan. This positive news gave the market a much-needed boost. Sectors like healthcare, financial services, and other service-related industries did well, while media, real estate, and IT stocks struggled and ended the week in the red,' added Bisht. For the week ended July 25, 2025, BSE Sensex closed at 81,463.09 points, a fall of 294.64 points or 0.36 per cent, from the previous week's (July 18) closing of 81,757.73 points. NSE Nifty too declined by 131.40 points or 0.52 per cent to 24,837 points from 24,968.40 points a week ago. Bishtforeasts: 'A further decline toward 0.5 would reflect an extreme level, which could signal a potential bounce in the near term. Nifty closed the week near its technical support level of 24,800. A further decline could push it toward 24,500. For the upcoming week, support is seen at 24,500, while resistance is expected at 25,000 and 25,200.' India VIX rose 5.15 per cent to 11.28 level. 'Implied Volatility for Nifty's Call options settled at 9.99 per cent, while Put options concluded at 10.64 per cent. The India VIX, a key indicator of market volatility, concluded the week at 10.72 per cent. The Put-Call Ratio based on Open Interest (PCR OI) stood at 0.75 for the week, indicating weakness in the market,' remarked Bisht. Bank Nifty Bank Nifty NSE's banking index closed the week at 56,528.90 points, 245.90 or 0.43 per cent lower from the previous week's closing of 56,283 points.
Hans India
14-07-2025
- Business
- Hans India
Range-bound trading likely as OI bases shifting lower bands
Afterhovering at 26,500CE for two weeks, the resistance level fell by 1,000 points to 25,500CE, while the support level declined by 500 points to 24,000PE as per the latest data on NSE. The 15,500CE has the highest Call base followed by 25,300/25,400/ 26,500/ 25,600/ 25,800/ 25,800 strikes, while 25,300/ 25,200/ 26,000/ 25,400/ 25,500/ 26,050 strikes. No major OI fall is visible on Call strikes. Coming to the Put side, maximum Put OI is seen at 24,000PE followed by 25,000/ 24,500/ 24,800/ 25,500/ 25,400/ 24,600/ 24,700/ 24,200 strikes. Further, 25,000/ 25,200/ 24,900/ 22,950/ 24,800/ 24,700 strikes recorded moderate addition of Put OI. Put ITM strikes in the 23,350-25,800 range witnessed moderate Put OI fall. Dhirender Singh Bisht, associate vice-president (technical research-equity) at SMC Global Securities Ltd, said: 'In the derivatives market, prominent Call Open Interest for Nifty seen at the 25,500 and 25,300 strike, while the notable Put Open Interest was at the 25,000 and 25,200 strike. For Bank Nifty, the prominent Call Open Interest was seen at the 57,000 strike, whereas notable Put Open Interest at the 56,000 strike.' The continued range bound move and selling observed at higher levels. Highest Call writing is is placed at 25,500 strike. Major Put base is visible and 24,000 holds meaningful OI for the coming weekly expiry. Hence, only a move below 25,200 may trigger intermediate profit booking, but overall sentiment remains positive and Nifty is likely to move towards 25600/25800 levels. 'Uncertainty surrounding the trade deal between India and the US has made traders and investors cautious in the market. Some profit booking at higher levels was seen last week, leading to the market closing in the red. The Nifty underperformed, ending the week with a loss of around 1.25 per cent, while the Bank Nifty declined by nearly 0.5 per cent on the weekly chart. Major losses were seen in Indian defence, IT and capital market stocks, whereas FMCG and private bank stocks showed relative outperformance on a weekly basis,' added Bisht. For the week ended July 13, 2025, BSE Sensex closed at 82,500.47 points, a fall of 932.42 points or 1.11 per cent, from the previous week's (July 5) closing of 83,432.89 points. NSE Nifty too declined by 311.15 points or 1.22 per cent to 25,149.85 points from 25,461 points a week ago. Bisht forecasts: 'Currently, both Nifty and Bank Nifty are trading above their long-term exponential moving averages and are near to their rollover levels. The Nifty futures rollover range is 25,200–25,300, while for Bank Nifty, it is 56,600–56,700. The outlook remains 'buy on dips' as long as both indices stay above these rollover levels. For Nifty, the psychological support is at 25,000, followed by 24,800, while resistance is placed at 25,500–25,600 zone.' India VIX rose 1.24 per cent to 11.82 level. India VIX continues under pressure owing to continued range-bound trading and closed at the lowest levels seen since September. Bank Nifty Bank Nifty NSE's banking index closed the week at 56,754.70 points, 277.20 or 0.48 per cent lower from the previous week's closing of 57,031.90 points.
Hans India
23-06-2025
- Business
- Hans India
Options data denotes sideways trading
Theresistance level remained at 26,000CE for a third consecutive week, while the support level rose by 1,200 points to 25,000PE based on the latest options data available on NSE after the last Friday session. Implied Volatility (IV) fell by over 40 per cent at the highest Put OI base, which indicates easing pressure on price fall, and it fell on the Call OI side. The 26,000PE has highest Call OI followed by 25,500/ 25,000/ 27,000/ 30,000/ 26,500/ 25,800/ 26,100/ 25,200 strikes, while 25,400/ 26,000/ 27,000/ 25,600/ 30,000 strikes. Call ITM strikes from 24,900 inwards witnessed a decline in Open Interest. Coming to the Put side, maximum Put OI was visible at 25,000PE followed by 24,000/ 24,200/ 24,700/ 24,900/ 25,100/ 23,900/ 24,300/ 24,500 strikes. Further, 25,000/ 25,100/ 24,800/ 24,700/ 24,400/ 24,100 strikes recorded reasonable addition of Put OI. Only four Put deep ITM strikes suffered moderate OI decline. Dhirender Singh Bisht, associate vice-president (technical research-equity) at SMC Global Securities Ltd, said: 'In the derivatives market, prominent Call Open Interest for Nifty seen at the 25,500 and 25,300 strikes, while the notable Put Open Interest was at the 25,000 and 24,800 strike. For Bank Nifty, the prominent Call Open Interest was seen at the 57,000 and 56,500 strikes, whereas notable Put Open Interest at the 56,000 strike.' 'Broader indices Nifty and Bank Nifty ended the week on a positive note, despite ongoing tensions between Iran and Israel. On the weekly chart, Nifty rose by 1.59 per cent and Bank Nifty gained 1.31 per cent. Domestic factors such as a decline in India's wholesale inflation and the RBI's relaxation of lending norms supported the market's upward momentum amid Middle East concerns. Sector-wise, infrastructure, private banks, and auto stocks led the gains, while media, pharma, and small-cap stocks closed in the red,' observed Bisht. For the week ended June 20, 2025, BSE Sensex closed at 82,408.17 points, a recovery of 1,289.57 points or 1.58 per cent, from the previous week's (June 13) closing of 81,118.60 points. NSE Nifty too moved up by 393.80 points or 1.59 per cent to 25,112.40 points from 24,718.60 points a week ago. Bisht forecasts: 'Nifty is currently trading near its resistance level of 25,200. A breakout above this level could lead to a further move towards 25,500. On the downside, immediate support is placed at the psychological level of 25,000, followed by strong support at 24,800. As long as Nifty holds above 24,800, the market can be considered a buy-on-dips.' India VIX fell 4.09 per cent to 13.67 level. PCRof OI indicates a slightly bearish market sentiment. 'Implied Volatility for Nifty's Call options settled at 13.51 per cent, while Put options concluded at 14.06 per cent. Bank Nifty Bank Nifty NSE's banking index closed the week at 56,252.85 points, a gain of 725.50 or 1.30 per cent from the previous week's closing of 55,527.35 points.
Hans India
16-06-2025
- Business
- Hans India
Higher Implied Volatility points to wider price swings
The support level fell by 1,200 points to 22,800PE, while the resistance level remained at 26,000CE for a second consecutive week. The 26,000CE has highest Call OI followed by 25,000/ 25,500/ 25,700/ 25,200/ 25,300/ 25,100/ 25,900 strikes, while 25,000/ 24,800/ 25,700/ 25,800 strikes recorded reasonable to heavy build-up of Call OI. Few OTM strikes in the 25,950-26,150 range witnessed moderate Call OI fall. Implied Volatility (IV) of 22,800PE, which holds the highest Put OI base, rose to 29.72, while the IV was marginally up at 26,000CE, which has a maximum Call OI base. Coming to the Put side, maximum Put OI is seen at 22,800PE followed by 23,500/ 24,000/ 23,000/ 22,850/ 23,800/ 24,300/ 24,100/ 24,400/ 24,500/ 24,600 strikes. Further, 22,800/ 23,000/ 23,500/ 23,800/ 24,000/ 24,500/ 24,600 strikes posted moderate to reasonable addition of Put OI. ITM strikes in the 24,800-25,700 range suffered minute Put OI decline. Dhirender Singh Bisht, associate vice-president (technical research-equity) at SMC Global Securities Ltd, said: 'From the derivatives front, marginal Open Interest addition was seen by option writers in absence of any clear direction. Maximum Open Interest in Calls was seen at 25,000 strike, while marginal Put writing was observed at 24,600 & 24,500 strikes.' 'Indian markets ended lower in the week gone by on the back of weak global cues. The knee jerk reaction was seen largely due to sharp rise in crude oil prices as geopolitical tensions rose in the Middle East. However, a moderation in CPI inflation helped limit the downside,' observed Bisht. For the week ended June 13, 2025, BSE Sensex closed at 81,118.60 points, a net fall of 1,070.39 points or 1.30 per cent, from the previous week's (June 6) closing of 82,188.99 points. NSE Nifty too moved down by 284.45 points or 1.13 per cent to 24,718.60 points from 25,003.05 points a week ago. Bisht forecasts: 'On the technical front, Nifty slipped below its short-term moving average (20DEMA) once again, but witnessed a swift rebound after testing the lower end of the recent consolidation range (24,500–25,200). This suggests a possibility of continued consolidation in the index. For the upcoming week, Nifty is likely to remain in range once again and witness a phase of consolidation within a broader range of 24500-25500. However a decisive breakout on any side beyond defined range could further fuel momentum into the index.' India VIX rose 7.60 per cent to 15.08 level. 'Implied Volatility (IV) for Nifty's Call options settled at 13.43 per cent, while Put options concluded at 14.10 per cent. The India VIX, a key market volatility indicator, closed the week at 14.02 per cent. Bank Nifty Bank Nifty NSE's banking index closed the week at 55,527.35 points, a fall of 1,051.05 or 1.85 per cent from the previous week's closing of 56,578.40 points.
Hans India
19-05-2025
- Business
- Hans India
Options data points to range-bound trading
Implied Volatility (IV) fell from over 26 to 15.77 on 26,000CE and IV on highest Put base eased from 54.88 to 15.07 level. Significant IV fall indicates returning stability to the market and less risk of large price swings when compared to the last week. The latest options data on NSE after last Friday session is indicating a narrow trading range as the resistance level marginally declined by 200 points to 26,000PE, while the support level significantly rose by 4,350 points to 25,000PE. The 26,000CE has highest Call OI followed by 26,800/ 25,500/ 26,500/ 25,000/ 24,800/ 25,800 strikes, while 26,800/ 26,500/ 25,900/ 25,100 strikes record heavy to reasonable build-up of Call OI. Modest Call OI fall is visible at select deep ITM strikes. Coming to the Put side, maximum Put base is seen at 25,000PE followed by 24,500/ 24,700/ 24,800/23,800 strikes. Further, 25,000/24,700/ 24,000/ 23,700/ 22,100 strikes witnessed marginal addition of Put OI. Few deep OTM Put strikes recorded modest OI fall. Dhirender Singh Bisht, associate vice-president (technical research-equity) at SMC Global Securities Ltd, said: 'In the derivatives market, prominent Call Open Interest for Nifty seen at the 25,500 and 25,000 strikes, while the notable Put Open Interest was at the 25,000 strike. In upcoming session 25,000 level will play an important role. For Bank Nifty, the prominent Call Open Interest was seen at the 55,500 and 56000 strikes, whereas notable Put Open Interest at the 55,000 strike.' Due to major volatility during the last week, highest Put concentration was placed at near ATM 25,000 Put strike, which seems to be part of portfolio hedging. Call OI is distributed across the ATM and OTM strikes with immediate Call base placed 24,500 strike. 'The market rallied on the following news of a ceasefire between India and Pakistan. Additional factors such as expectations of a trade deal between India and the US, along with FII buying in equities during May, also supported the market. Nifty closed the week with a gain of over four per cent, while Bank Nifty rose by more than 3.25 per cent during the same period. Leading sectors included Indian defence, capital markets, and Indian railways, while underperformers were chemicals, pharma, and FMCG,' added Bisht. For the week ended May 16, 2025, BSE Sensex closed at 82,330.59 points, gauge jumped 2,876.12 points or 3.61 per cent, from the previous week's (May 9) closing of 79,454.47 points. NSE Nifty too surged 1,011.8 points or 4.21 per cent to 25,019.80 points from 24,346.70 points a week ago. India VIX fell 2.03 per cent to 16.55 level. A move above 24,500 may extend the strength in the market towards 24,800. India VIX has risen sharply in last few days and moved near 22 per cent level against the average of 14 per cent level, which we saw since October 2024. The surging India VIX is signaling protection buying for the portfolio through index options against any eventuality. VIX will cool-off this week and market will look for decent recovery. Bank Nifty Bank Nifty NSE's banking index closed the week at 55,354.90 points, a hefty recovery of 1,759.65 or 3.28 per cent from the previous week's closing of 53,595.25 points.
