Courtesy- http://nifty-tips-calls.blogspot.com
It was a good close to the July series altogether where the Nifty and the Sensex gained nearly 1.5%. Today’s trade saw the PCR (put-call ratio) jump in the last hour of trade from 1.4 to 1.5. Also, turnover was seen near its highest level. Volumes were seen at nearly Rs 1.7 lakh crore. All in all, it was a good series, with 75% rollover done on the Nifty and an addition of nearly 60 lakh shares in the August series.
In an interview with CNBC-TV18, Siddharth Bhamre, Angel Broking gave his perspective on the July series F&O expiry and his reading on rollovers for the August series.
Tops made in market in the month of October, January and April you won’t see much significant difference but they are slightly shifting upwards. Same we can say for what is August series rollovers are good as I mentioned.
But the range has slightly shifted by 100 points upward. We are seeing support of 5300 now because there is a lot of put accumulation and writing happening over there. The writing of call option which happened in the July series between 5400 and 5500 call has now shifted 100 points up to 5500 call and 5600 call.
So you have a range of 5300 and 5600 for August series. It is way too early to say that we may not breach 5300 or may not go above 5600. But that is the initial thing which we are catching from August series
Ref- Moneycontrol News Center
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