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The Nifty index continued to trade in a range with a negative bias on February 13 making it difficult for traders to make money. The index eventually closed down 0.48 percent or 86 points to 17,771. Domestic equities succumbed to weakness in global markets as investors fret over the Federal Reserve’s stress on the tightening of the monetary policy to tame inflation. (Blue bars show volume and golden bars open interest (OI).)

The Nifty index continued to trade in a range with a negative bias on February 13 making it difficult for traders to make money. The index eventually closed down 0.48 percent or 86 points to 17,771. Domestic equities succumbed to weakness in global markets as investors fret over the Federal Reserve’s stress on the tightening of the monetary policy to tame inflation. (Blue bars show volume and golden bars open interest (OI).)

On the option front, 17,800 has seen most call writing as the strike emerged as the resistance. The same strike saw put unwinding as they shifted to lower strikes. Call writing was also seen at 17900 and 18000. (Bars reflect change in OI during the day. Red bars show call option OI and green put option OI.)

On the option front, 17,800 has seen most call writing as the strike emerged as the resistance. The same strike saw put unwinding as they shifted to lower strikes. Call writing was also seen at 17900 and 18000. (Bars reflect change in OI during the day. Red bars show call option OI and green put option OI.)

Bank Nifty also saw a rise in the selling of calls at 41,500 which was different from its usual 2-3 day behaviour of short straddles being created at this level. “Traders from a monthly expiry perspective, however, remained unperturbed with today's fall as the 41,000 PE and 42,000 CE contours remain the ones with the highest OI even after today's down move,” said Rahul Ghose, Founder & CEO – Hedged, an algorithm-powered advisory platform. (Bars reflect change in OI during the day. Red bars show call option OI and green put option OI.)

Bank Nifty also saw a rise in the selling of calls at 41,500 which was different from its usual 2-3 day behaviour of short straddles being created at this level. “Traders from a monthly expiry perspective, however, remained unperturbed with today's fall as the 41,000 PE and 42,000 CE contours remain the ones with the highest OI even after today's down move,” said Rahul Ghose, Founder & CEO – Hedged, an algorithm-powered advisory platform. (Bars reflect change in OI during the day. Red bars show call option OI and green put option OI.)

Gujarat Gas saw a massive long buildup as open interest rose 31 percent. A long build-up is a bullish sign that happens when open interest and volume increase with the rise in share price. Glenmark Pharma, Nalco and HAL were others that saw heavy long buildup. “From the basket of stocks, Aurobindo Pharma was seen having significant futures build-up over the last 5 days with the stock also rallying more than 13 percent in the same time. One can look at entering it on a pullback around the 430 levels,” said Ghose. (Bars reflect change in OI during the day. Red bars show call option OI and green put option OI.)

Gujarat Gas saw a massive long buildup as open interest rose 31 percent. A long build-up is a bullish sign that happens when open interest and volume increase with the rise in share price. Glenmark Pharma, Nalco and HAL were others that saw heavy long buildup. “From the basket of stocks, Aurobindo Pharma was seen having significant futures build-up over the last 5 days with the stock also rallying more than 13 percent in the same time. One can look at entering it on a pullback around the 430 levels,” said Ghose. (Bars reflect change in OI during the day. Red bars show call option OI and green put option OI.)

City Union Bank saw a massive short buildup. The short build-up is a bearish sign that takes place when the price of a stock falls, along with high open interest and volume. (Bars reflect change in OI during the day. Red bars show call option OI and green put option OI.)

City Union Bank saw a massive short buildup. The short build-up is a bearish sign that takes place when the price of a stock falls, along with high open interest and volume. (Bars reflect change in OI during the day. Red bars show call option OI and green put option OI.)

IDFC, Balkrishna Industries, Info Edge and Lupin were others that saw a short buildup. (Percentage reflects change in futures price during the day.)

IDFC, Balkrishna Industries, Info Edge and Lupin were others that saw a short buildup. (Percentage reflects change in futures price during the day.)

The Nifty index continued to trade in a range with a negative bias on February 13 making it difficult for traders to make money. The index eventually closed down 0.48 percent or 86 points to 17,771. Domestic equities succumbed to weakness in global markets as investors fret over the Federal Reserve’s stress on the tightening of the monetary policy to tame inflation. (Blue bars show volume and golden bars open interest (OI).)

On the option front, 17,800 has seen most call writing as the strike emerged as the resistance. The same strike saw put unwinding as they shifted to lower strikes. Call writing was also seen at 17900 and 18000. (Bars reflect change in OI during the day. Red bars show call option OI and green put option OI.)

Bank Nifty also saw a rise in the selling of calls at 41,500 which was different from its usual 2-3 day behaviour of short straddles being created at this level. “Traders from a monthly expiry perspective, however, remained unperturbed with today's fall as the 41,000 PE and 42,000 CE contours remain the ones with the highest OI even after today's down move,” said Rahul Ghose, Founder & CEO – Hedged, an algorithm-powered advisory platform. (Bars reflect change in OI during the day. Red bars show call option OI and green put option OI.)

Gujarat Gas saw a massive long buildup as open interest rose 31 percent. A long build-up is a bullish sign that happens when open interest and volume increase with the rise in share price. Glenmark Pharma, Nalco and HAL were others that saw heavy long buildup. “From the basket of stocks, Aurobindo Pharma was seen having significant futures build-up over the last 5 days with the stock also rallying more than 13 percent in the same time. One can look at entering it on a pullback around the 430 levels,” said Ghose. (Bars reflect change in OI during the day. Red bars show call option OI and green put option OI.)

City Union Bank saw a massive short buildup. The short build-up is a bearish sign that takes place when the price of a stock falls, along with high open interest and volume. (Bars reflect change in OI during the day. Red bars show call option OI and green put option OI.)

IDFC, Balkrishna Industries, Info Edge and Lupin were others that saw a short buildup. (Percentage reflects change in futures price during the day.)

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