Stocks to buy today: SBI, NTPC among top 10 trading ideas for 1 August 2023
India VIX was up by 2.69% from 10.14 to 10.41 levels on Monday. Volatility cooled off after spiking during the day but has been overall hovering near its lower band.
Since it is the beginning of the new series, Options data is scattered at various far strikes in the monthly series. On the weekly front, the maximum Call OI is placed at 19800 and then towards 20000 strikes.
The maximum Put OI is placed at 19600 and then towards 19700 strikes. Call writing is seen at 20000 and then towards 19950 strikes while the Put writing is seen at 19700 and then towards 19600 strikes.
“Options data suggests a broader trading range in between 19300 to 20200 zones while an immediate trading range in between 19500 to 20000 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said. “Nifty negated its lower lows of the last two sessions and respected the support of 20 DEMA.
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