Trade Setup for 16 Nov 2017 – Call Put option data analysis

Market Overview

The bears stayed responsible for Nifty on Wednesday as the list broke its significant help level of 50-day exponential moving normal (DEMA) on the drawback and went beneath 10,100 intraday.The list recorded a bearish light for the third sequential session in succession on Wednesday. Despite the fact that the record figured out how to close marginally over its 50-DEMA, the standpoint still stays careful.

Call Options Data

Maximum Call open interest (OI) of 58.25 lakh contracts was seen at strike price 10,500 which will act as a crucial resistance for the index in November series, followed by 10,400, which has accumulated 50.45 lakh contracts in open interest, and 10,300, which now holds 48.32 lakh contracts in open interest.

Call writing was seen at strike price of 10,300, which saw the addition of 17.59 lakh contracts, along with 10,300, which saw the addition of 4.56 lakh contracts, and 10,100, which saw the addition of 4.06 lakh contracts.

Call unwinding was seen at strike price of 10,700, which saw shedding of 4.13 lakh shares.

Put Options Data

Maximum Put open interest (OI) of 45.45 lakh contracts was seen at a strike price 10,200, which will act as a crucial base level for the index in the November series, followed by 10,000, which now holds 43.56 lakh contracts in open interest, and 10,100, which has accumulated 32.55 lakh contracts in OI.

Put writing was seen at a strike price of 9,800, which saw addition of 2.45 lakh contracts, followed by 10,100 (added 2.32 lakh contracts).

Put unwinding was seen at strike prices 10,300 (9.48 lakh contracts were shed); followed by 10,400, which saw shedding of 1.79 lakh contracts and 10,000 (0.75 lakh contracts were shed).

Source

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