The volatility cooled down further, consistently giving more comfort and support to the bulls. The India VIX, the fear index, slipped 2.4 percent to 11.37 level, the lowest level since November 24, 2023.
Comparatively the contract value of Sensex is lower than the Nifty. So, I think that is also for competition, that is also for more retail participation and again this is for, as per the rule of keeping the derivatives contract value to 5 lakh rupees.
Since it is the beginning of the new series, options data is scattered at various far-strike prices. On the weekly options front, the maximum Call OI is placed at 23,000 and then towards 22,500 strikes while the maximum Put OI is placed at 22,000 and then towards 22200 strikes.
The Nifty PCR is currently at 1.18. Meaningful call writing is witnessed across 22400-22500 strikes, while put writing was witnessed in 22200-22000 strikes.
Indian Hotels stock closed 0.96% higher at Rs 591.35 in Thursday's trade against Rs 312.5 level on March 28, 2023. Market cap of the firm rose to Rs 84,174 crore on BSE.