See gap down opening for Nifty led by weak global cues: ICICIdirect

The highest Put base is at the 9000 strike with 59 lakh shares while the highest Call base is at the 9500 strike with 45 lakh shares. The 9300 and 9500 Call strikes saw additions of 4.7 and 1.4 lakh shares, respectively, while 9100 and 9200 Put strikes saw additions of 7.2 and 1.1 lakh shares, respectively.

Nifty Bank

Post the policy, the market participants dint take the policy on cheerful note and saw some fresh additions of short positions. Huge profit booking was seen in Call options whereas the positions on the Put side have shifted towards 21500 and 21200 strike. We feel, the index is likely to face hurdle near 21750 levels on upside.

Nifty Future: The Nifty is likely to open gap down on the back of weak global cues. Sell Nifty in the range of 9250-9260 for targets of 9200-9180, stop loss: 9280.

Nifty Bank Future: Post the policy, the market participants dint take the policy on cheerful note and saw some fresh additions of short positions. Huge profit booking was seen in Call options whereas the positions on the Put side have shifted towards 21500 and 21200 strike. We feel, the index is likely to face hurdle near 21750 levels on upside. Sell Nifty Bank in the range of 21650-21700, targets: 21550-21450, stop loss: 21770.

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