Let's talk!

Blogs » Aliens & UFO » Deploy modified Put butterfly strategy in Nifty: Shubham Agarwa

Deploy modified Put butterfly strategy in Nifty: Shubham Agarwa

  • After a great upside move for four consecutive weeks, Nifty gave a halt to its rally last week. Nifty was unable to sustain near its all-time high levels and crashed vertically to the 17650 levels.

    The Nifty future during this week ranged from 18360 to 17500, ending the week 3.50 percent loss.

    IT and NBFC sector contributed the most for this fall, Nifty witnessed short built-up on OI ( open interest  front in the week gone by.

    Outperforming the benchmark index, Nifty Bank shed 2% during the last week.

    Bank Nifty traded in the broader range of 38965 - 37275 and lost more than 700 points last week. The index also witnessed Long Unwinding on OI front in the week gone by.

    Further diving into the Nifty upcoming weekly expiry CE writers showed aggression by building more position compared to PE writers. Nifty immediate support stands at the 17500 levels, where nearly 41L shares have been added, followed by 17000 levels with 57L shares.

    On the higher side, an immediate resistance level is at 17900 where nearly 52L shares have been added followed by vital resistance at 18000 with addition of 94L shares.

    Looking at the Bank Nifty upcoming weekly expiry data, on the upper side, immediate and vital resistance stands at 38000 (22 lakh shares). Whereas, on the downside, the immediate support level stands at 37500 (12 lakh shares), followed by 37000 (16 lakh shares).

    India VIX, fear gauge, increased by 15% from 16.55 to 19.10 over the week. India VIX is trading near the lowest level of pre-covid crash. A cool off in the IV has given relaxation to market. Further, any downticks in India VIX can push the upwards momentum in Nifty.

    Looking at the sentimental indicator, Nifty OI PCR for the week has decreased from 1.248 to 0.88. Bank Nifty OIPCR over the week decreased from 0.887 to 0.744 compared to last Friday. Overall data indicates more of CE writers over PE writers in Nifty.

    Let's move into the weekly contribution of sectors to the Nifty. Most of the sectoral indices have negatively contributed such as IT, NBFC and PVTB have collectively contributed nearly 400+ in the Nifty 646 points loss. Whereas only Power alone contributed on the marginally on positive side.


Recent Blog Entries

  • A Server Virtualization Engineer partitions a physical server by using software into several smaller virtual servers to boost server resources. Besides, this individual also helps to ensure that space is saved, allowing many resources to use the same space. By doing so, they improve network performa...
  • October 29, 2018
    Posted by Deylr eylrod
  • We welcome the many gamers at our website; players can discover us to get cash of clans’ limitless gems and hacks. The coc hack tool is a strategy application for mobile device at present! We construct our coc hack tool for both android and iOS gadget, it is established by specialize industr...
  • One on the great "you was able to make it moments" to be described as a rookie must be in the event you notice your name employing a Madden video games. Would you play you because you in Madden? Would that certainly be considered a sign of narcissism reely more than the moment being proud of merely ...
  • The gaming companies are enduring a summer swoon, as being the industry-tracking NPD Group today announced its June retail sales figures, showing shrinking revenues year-over-year overall.Even with grim news with the industry overall, there was clearly some individual winners. Take-Two Interactive f...
View All