Derivatives View (June 15): Sell Bank Nifty in range of 20650-20700.. - ICICI Securities

Nifty

The Nifty recovered around 300 points from the low of 9580 and closed with a gain of 72 points at 9973 amid high volatility. On the options front, we saw aggressive writing in ATM and OTM Call, which is likely to keep the index under pressure. On the other hand, 9500 and 9700 Put has significant OI. These levels should act as support on downsides. Nifty futures ended at a discount of 18 points with a rise in IVs by 4%. The major Put base is at 9800 strike with almost 8 lakh shares while the major Call base is at the 10000 strike with almost 17 lakh shares.

Bank Nifty

The Bank Nifty reversed its trend sharply from the support line of 19500 and extended its recovery up to 20500. Most leaders from private banks witnessed a recovery. On the option front, 19500 Put and 21000 Call hold significant OI. This suggest the Bank Nifty may largely trade between the range of 19500 and 21000 in coming days.

Daily Index F&O recommendations

1. Sell Nifty 10200 Call (June 18 expiry) in the range of Rs. 58-60
2. Sell Bank Nifty in the range of 20650-20700

For details, click on the link below: https://www.icicidirect.com/mailimages/Derivatives_view.pdf

Source : Equity Bulls

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